First entry: Wednesday, March 31, 2021, 13:37
The White House announced today the first details of the “US Employment Plan”, a giant infrastructure investment plan that US President Joe Biden wants to launch to further support the economy as the country recovers from the coronavirus crisis. .
The US president will present his plan in a speech later today in Pittsburgh.
The White House announced that the plan envisages spending more than 2 trillion. dollars for the coming years. These costs will be fully covered by taxes of 2 trillion. in 15 years, with an increase in the corporate tax rate to 28% from 21%, an increase in the minimum tax for American multinationals and the introduction of a minimum tax of 15% on net income (book income).
“Like previous major projects in our history, the president’s plan will unite and mobilize the country to meet the great challenges of our time: the climate crisis and the ambitions of an authoritarian China,” the White House said in a statement. publicity.
According to Bloomberg, the plan provides $ 620 billion for transportation and $ 650 billion for initiatives to improve the quality of life at home, such as clean water and high-speed broadband.
It also plans to raise $ 580 billion to support the US manufacturing sector – with about $ 180 billion going into what is described as the largest non-defense R&D program in U.S. history. It also provides $ 400 billion to improve care for the elderly and disabled.
The new plan, however, is expected to provoke strong reactions on the part of Republicans who have long been opposed to tax increases, while it is possible to test the cohesion of Democrats given the range of measures it includes, comments Bloomberg.
Last Updated: Wednesday, 31 March 2021, 13:37