Biden sets out 'once-in-a-generation' $2 trillion infrastructure plan
Apr 01 2021
The plan also vows to "spark the electric vehicle revolution" by building a network of 500,000 EV chargers, replacing 50,000 diesel transit vehicles and accelerating the transition to a greener economy that makes infrastructure more resilient to climate change. It would fix 10,000 bridges desperately in need of upgrades.
"The Biden plan will crush American workers and decimate USA manufacturing, while giving special tax privileges to outsourcers, foreign and giant multinational companies".
For example, technology companies are more likely to oppose the 15% minimum tax on book income in Biden's plan, the person said - especially a company like Amazon.com Inc, that's both a tech company with research-and-development investment and a company that owns retailers like Whole Foods Market Inc with brick-and-mortar stores.
"We'll use taxpayers' dollars to rebuild America".
The plan comes on the heels of Biden gaining congressional approval of a $1.9 trillion coronavirus relief deal exclusively on the strength of the votes of Democratic lawmakers over unified Republican opposition.
"If others have additional ideas, let them come forward", Biden said.
The intention is to encourage Americans "to buy American-made EVs while ensuring that these vehicles are affordable for all families and manufactured by workers with good jobs".
Even though Republicans refused to vote for his COVID-19 rescue plan, Mr. Biden said he was confident some would support the infrastructure program, and that he was ready to negotiate with them.
Biden, who took office in January, vowed to pass a second bill aimed at improving infrastructure in the United States and creating jobs, and USA media reported that would likely be divided up into two proposals costing a total of $3 trillion.
"He knows how to reach to the other side and make good things happen", she said of the president.
FILE - Work proceeds on an Interstate Highway 75 project in Hazel Park, Michigan., April 20, 2020.
The new spending offensive comes soon after the United States passed a almost $2 trillion Covid-19 economic stimulus plan.
"Proposes US corporate tax rate to go up to 28% from 21%".
For some progressive and environmental groups, the Biden package is insufficient.
The bill would carve out $174 billion for the EV sector, as Biden aims to better equip United States companies to compete with China, which has a bigger market share of plug-in electric vehicle sales. The second half of his plan will be announced in a few weeks. It is to focus on health insurance coverage, child care subsidies and free access to community colleges.