Last updated on July 18th, 2023 at 01:25 pm
President Biden is expected to propose a $2 trillion infrastructure plan that would be the biggest since The New Deal
Biden is expected on Wednesday to unveil a more than $2 trillion package focused primarily on physical infrastructure such as roads and bridges; major investments in housing, clean energy, and manufacturing; and a major investment in home-based care for the disabled and elderly, among other measures, according to two people who spoke on the condition of anonymity to reveal details of the internal discussions.
Then, the White House will unveil a second plan, in several weeks, that includes an expansion in health care insurance coverage; an extension of the expanded child tax benefit; and paid family and medical leave, among other efforts aimed at families, the officials said. White House officials have not explained whether they will seek to have both efforts pass at the same time, or try to get Congress to approve one first. The combined price-tag of the plans could top $4 trillion.
A Brookings Institute analysis found that it would take $4 trillion in spending to hit New Deal levels of federal outlays on infrastructure.
On the rare occasions in previous decades when Congress could agree on an infrastructure bill, the pricetag has usually been in the hundreds of billions of dollars. Biden and the Democrats are proposing the sort of spending on the nation’s critical infrastructure that the United States hasn’t witnessed in decades.
President Biden and Democrats in the House and Senate are putting together a transformative government that is dealing with big problems, and this sort of spending will improve the lives and communities of people for decades to come.
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