The agenda of President Biden has an essential price tag: When it comes to the first 100 days of his term, Mr. Biden has the three most important initiatives. These major initiatives include American Rescue Plan, American Job Plan, and American Families Plan. In addition to that, the total cost of these initiatives is higher than $6 trillion.
On the other side, the Federal government splurged higher $6.5 trillion across in the last year, in 2020. In addition to that, here is the information about the American Jobs plan.
American Job Plans:
The proposal calls for more than $2 trillion for rebuilding the nation’s collapsing infrastructure. It consists of roads, airports, and bridges. The money will also spend on the “care” infrastructure, which includes administers long-term care for the elderly and disabled. Focused on:
- $621 billion specifically for the infrastructures such as electric vehicles, rails, bridges, etc.
- $50 billion for improving the infrastructure for withstanding the climate changes.
- $111 billion to replace the lead pipes and for the upgrading systems of drinking water.
- $213 billion for building and updating affordable housing.
- $100 billion for broadband
- $ 100 billion will be utilized for building and upgrading the public schools.
- $400 billion will use for home and community care and industry workers.
- $100 billion utilize for the workforce development
- $300 billion for manufacturing purposes which include strengthening the supply chains.
- $180 billion will be spent on the research and development sector.
The administrators also claim that it will completely be paid for the passage of Made in America Tax Plan.
- Increment in the corporate tax rate of 7% that is 21% to 28%.
- Implement of 15% minimum tax on the “book-incomes.”
It is all about the plans which are related to American jobs.