In this way, the new US president hopes to restore growth and reduce unemployment. To finance it, the new administration will reduce the corporate tax from 21% to 28%.
US President Joe Biden Wednesday proposed investing nearly $ 2 trillion in infrastructure to create millions of jobs and meet the challenge of competing against China.
He will present the first phase of “Building Better Better” (“Building Back Better”) during a speech in Pittsburgh, Pennsylvania, detailing these investments over eight years. Specifically, it plans to inject 6 620 billion in transportation, which will enable the modernization of more than 20,000 miles of roads and highways in the United States.
White House tenants presented by Donald Trump as “sleeping men” without strong ideas or guidelines want the file to be their mandate. “Joe Biden believes his role is to present a bold vision of how we can invest for our country, our communities, our workers,” said spokeswoman Jane Sackie.
In particular, significant investments will be financed by increasing the corporate tax from 21% to 28%. According to the White House, the rate will remain at its lowest level since World War II, in 2017, after years of Donald Trump’s tax reform.
Fighting begins in Congress.
The new legislative attack comes shortly after Congress adopted the Covid-19 epidemic-focused rehabilitation plan, which is also estimated at 2 2.2 billion.
The only certainty:
Pittsburgh’s speech will only be the starting point for a bitter tussle in Congress with uncertain results. The democratic majority there is narrow, and negotiations promise to be strong. In the coming months, to use Barack Obama’s rhetoric, the Democratic president specializing in Washington’s “old lion” of working and politics will examine the negotiating features.
A senior White House official said the president wanted to clarify that he had a plan and was open to debate. “Imagine a” new American economy, “he added.
The plan aims to bolster the “electric car revolution,” for example, an electric switch for 20 of the famous yellow school buses for buses. The goal is to make the new infrastructure more resilient to the changes associated with climate change.