During his visit to Pittsburgh, Biden made evaluations of the economic plan.
Recalling that millions of Americans lost their jobs last year due to the new type of Corona virus (Covid-19) epidemic, Biden noted that the richest 1 percent increased their wealth by $ 4 trillion.
“Wall Street did not build this country. The middle class built this country,” Biden said, asserting that it is time to build the country’s economy from the bottom up. saying.
Regarding the infrastructure package, Biden said: “An investment that can be made in the United States once a year, unlike anything we have seen or done.” found the evaluation.
A PACKAGE THAT EXPANDS 8 YEARS
Noting that the economic plan consists of two parts as “American Jobs Plan” and “American Families Plan”, Biden emphasized that both are important for the future of the economy.
Biden, referring to the details of the infrastructure package, which he called the “American Employment Plan,” explained that transportation infrastructure, roads, bridges and airports will be modernized.
Noting that efforts to combat climate change will also be included in the package, Biden said: “What I propose is a one-time capital investment of about $ 2 trillion in America’s future.” speak.
Stating that the package has been spread over 8 years, Biden explained that increased employment and economic growth will help companies compete more internationally and generate more revenue.
CORPORATE TAX WILL BE INCREASED TO 28 PERCENT
Saying that federal taxes will be raised to fund the package, Biden said: “This is not about punishing anyone. I have nothing against millionaires and billionaires. I believe in American capitalism.” saying.
Biden stated that the corporate tax will be increased to 28 percent and that this is not to be complained about, and that the tax rate in question remains low compared to the period between World War II and 2017.
Stating that he will meet with Republicans on the issue and is open to their views, Biden stressed that the package in question must be implemented.
INFRASTRUCTURE PACKAGE DETAILS
With the approximately $ 2 trillion infrastructure package announced by Biden, it aims to heal the wounds caused by the Kovid-19 epidemic in the economy and revive the country’s economy.
The infrastructure package in question is claimed to be the second largest package the Biden administration is working on, after the $ 1.9 billion financial support package to combat the Kovid-19 outbreak.
The infrastructure package, which constitutes the first phase of Biden’s economic plan, includes investments such as modernizing roads and bridges, expanding broadband Internet access, and increasing R&D and clean energy studies.
In the package, $ 621 billion for projects such as the development of highways, bridges, highways, ports, airports, and electric vehicle systems, $ 580 billion for production projects, R&D and vocational training, $ 300 billion dollars for construction and improvement projects. of schools and residences, drinking water infrastructure USD 300 billion is allocated for investments in the development of broadband Internet access and electricity networks, and USD 400 billion is allocated for the care of the elderly and disabled.
While the package is expected to cost $ 2 trillion in 8 years, the controversial financing will increase from 21% to 28% in more than 15 years.
Details of the second part of the plan, which focuses on services such as health and education, are expected to be announced in April.