The past few weeks has seen the gradual unveiling of President Biden’s most recent piece of large-scale legislation, now commonly referred to as the Biden Infrastructure Plan. Originally presented as the American Jobs Plan in Pittsburgh last month, Biden’s latest bill was touted as a full proof “once-in-a-generation investment in America”, committed to dually rebuilding the nation’s infrastructure and repairing the economy following the pandemic, all while making strides towards more sustainable energy over the next 8 years.
Specifically, the American Jobs Plan encompasses a two-part process, beginning with the repairing and modernizing of roadways, bridges and transportation means nationwide. This initial unfurling is envisioned to create millions of jobs and elevate the middle class. In the next few weeks, the Biden Administration will announce the second portion of the spending plan, coined the “care economy”, which will devote itself to improving education and child care efforts. The White House claims that this strategy is thought specifically to benefit communities of color and rural Americans.
As to how this process will be paid for, Biden’s blueprint would raise the corporate income tax up to 28% from the current 21%, a number which has held since Trump headed the Republican tax cut in 2017.
Historically, infrastructure has been an issue that generally garners bipartisan support, but discrepancies have expounded regarding the bill’s budget and funding.
The GOP Base offered an alternative to original spending plan on Thursday, instead eliminating corporate tax hikes and thus slashing the price tag to 568 billion. Additionally, the counter insists that a larger portion of money be dedicated strictly to infrastructure, removing funding that Biden had originally reserved for electric vehicles, elderly care, and research into systemic racism.
While Biden found recent success in passing his stimulus package relatively quickly through Congress, the Infrastructure Plan will likely face a rockier road to ratification, as parties debate what parts are considered essential or merely pieces in a progressive agenda.