Today, Explained Biden’s $2 trillion infrastructure plan
Mar 31, 2021
This week, the discussion centers on President Biden's ambitious $2 trillion infrastructure plan, aiming to modernize bridges, roads, and clean energy initiatives. The urgent need for improvements highlights America's outdated systems compared to countries like Japan and Germany. There’s a focus on the political dynamics surrounding this plan and the complexity of funding infrastructure projects. Potential bipartisan support emerges as a glimmer of hope for overcoming obstacles and achieving long-term economic growth.
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Past Infrastructure Promises
- President Biden isn't the first president to discuss infrastructure.
- Trump frequently tweeted about "infrastructure weeks," but never produced a plan.
Congressional Infrastructure Efforts
- While Trump's plans stalled, House Democrats passed a $1.5 trillion infrastructure plan last year.
- This year, they face a September deadline for a 5-year surface transportation reauthorization bill.
Biden's Plan: Bigger and Funded
- Biden's $2 trillion plan is significantly larger than previous proposals.
- It includes a tax plan to fund the infrastructure projects, raising corporate tax to 28%.