White House Prepares $3 Trillion Jobs, Infrastructure Package

Published March 23rd, 2021 - 08:00 GMT
White House Prepares $3 Trillion Jobs, Infrastructure Package
The former may include increasing taxes on corporations and the wealthy while providing money to American workers. (Shutterstock)
Highlights
Proposal to focus on key economic issues, infrastructure and clean energy

White House advisers are working on a $3 trillion jobs and infrastructure package to present it to US President Joe Biden this week, according to reports Monday.

The proposal will include two parts -- one focusing on key domestic economic issues in what is being called the "care economy" and the other on infrastructure and clean energy, according to CNN.

The former may include increasing taxes on corporations and the wealthy while providing money to American workers.

"President Biden and his team are considering a range of potential options for how to invest in working families and reform our tax code so it rewards work, not wealth," White House Press Secretary Jen Psaki said in a statement.

The latter would focus on funding for infrastructure to improve roads, bridges and rails as well as $100 billion for education infrastructure in addition to spending for climate change measures and research.

Biden is yet to review the plans and consult with Senate Democratic Leader Chuck Schumer and House of Representatives Speaker Nancy Pelosi before his joint address to Congress in April, according to the report.

The $3 trillion packages could face heavy opposition from Republicans for increasing liquidity in markets, although they could not prevent Biden's $1.9 trillion COVID-19 relief bill from being passed in Congress earlier this month.

As part of the latest bill, nearly 160 million US households will receive a total of $400 billion in direct payments. Stimulus checks worth $1,400 have already been distributed to more than 90 million people, according to the Internal Revenue Service (IRS) last week.


© Copyright Andolu Ajansi

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