President Biden is planning on spending 4.5 trillion on a new infrastructure and families plan for the nation. He states that we can do this, “without deficits,” Many are arguing if his plan is economically feasible or even good. Or, whether he will even have the support to do it in the first place.
The plan would spend 2.3 Trillion on infrastructure and 1.8 trillion on families. According to the New York Times, “Most of the spending and tax cuts in Wednesday’s proposal is directed at families, with provisions for a national paid family and medical leave program; child care subsidies; and extensions of several tax credit expansions from the most recent Covid-19 relief law.” This plan would also play a role in education. It is proposed to give free pre-kindergarten to two and three year-olds. Also, two years of community college free of pay. (Also more investments to universities serving minority groups.) Another major part of the plan is the tax raises on the wealthy. It is stated that those in the top will pay higher taxes to play for this plan. This will also apply to larger corporations.
There has been both backlash and support for those supposed plans. Even though it is likely that most democrats will support the plan, it is uncertain if most republicans will. Despite this, Biden still has belief in the plan and has stated that he hopes for there to be support from both sides and chambers of congress.
Many are divided on the plan. Do you think that it should or will even pass? Do you think that this will hurt or help our economy?
I'm glad that he's got all of these plans and ideas but my big thing about all this is, when is he going to start carrying these things out? I think that it will be passed mainly because the Democrats control the House and the Senate and since we have a Democratic president, it will have a good chance of getting passed.
ReplyDelete-Jameson H.