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How Joe Biden Will Pay For The $2 Trillion Infrastructure Plan | Forbes
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April 1, 2021
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April 1, 2021
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2:13Now PlayingAfter weeks of anticipation, President Biden will unveil on Wednesday a sweeping proposal to revitalize American infrastructure and manufacturing, begin the transition to clean energy and industry and create jobs—here are the details.
The $2 trillion Biden will ask Congress to approve for his American Jobs Plan will be spent over a period of eight years and paid for with tax hikes over a period of 15 years.
Included in that $2 trillion is $621 billion for transportation infrastructure like roads and bridges, with $174 billion of that set aside for the electric vehicle market, $111 billion for clean drinking water, $100 billion for expanding broadband and $100 billion for power infrastructure like the electric grid.
While Republicans are sure to balk at the price tag and the potential repeal of many of President Trump’s tax cuts for big companies and wealthy individuals to pay for the plan, some progressives are saying the package should be larger. “This is not nearly enough,” Rep. Alexandria Ocasio-Cortez tweeted Tuesday.
Biden is expected to introduce the second part of his American Jobs Plan next month. That proposal will include provisions related to healthcare and childcare.
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