During his visit to Pittsburgh, Biden made evaluations regarding the economic plan.
Reminding that millions of Americans lost their jobs last year due to the new type of Corona virus (Covid-19) epidemic, Biden pointed out that the richest 1 percent increased their wealth by 4 trillion dollars.
“Wall Street did not build this country. The middle class built this country,” Biden said, stating that it is time to build the country’s economy from bottom to top. said.
Regarding the infrastructure package, Biden said, “It is an investment that can be made in America once in a year, unlike anything we have seen or done.” found the assessment.
A PACKAGE SPREADING TO 8 YEARS
Pointing out that the economic plan consists of two parts as “American Employment Plan” and “American Families Plan”, Biden emphasized that both of them are important for the future of the economy.
Biden, referring to the details of the infrastructure package, which he called the “American Employment Plan”, explained that the transportation infrastructure, roads, bridges and airports will be modernized.
Pointing out that efforts to combat climate change will also be included in the package, Biden said, “What I am proposing is a one-time capital investment of about $ 2 trillion in the future of America.” he spoke.
Stating that the package has been spread over 8 years, Biden explained that the increase in employment and economic growth will help businesses to compete more internationally and generate more income.
CORPORATE TAX WILL BE INCREASED TO 28 PERCENT
Saying that federal taxes will increase in financing the package, Biden said, “This is not about punishing anyone. I have nothing against millionaires and billionaires. I believe in American capitalism.” said.
Biden stated that the corporate tax will be increased to 28 percent and that this should not be complained, the tax rate in question is still low compared to the period between World War II and 2017.
Stating that he will meet with Republicans on the subject and he is open to their opinions, Biden underlined that the package in question should be implemented.
DETAILS OF THE INFRASTRUCTURE PACKAGE
With the infrastructure package of approximately $ 2 trillion announced by Biden, it is aimed to heal the wounds caused by the Kovid-19 epidemic in the economy and to revive the country’s economy.
After the $ 1.9 trillion economic support package to combat the Kovid-19 outbreak, it is stated that the infrastructure package in question is the second largest package that the Biden administration is working on.
The infrastructure package, which constitutes the first phase of Biden’s economic plan, includes investments such as modernization of roads and bridges, expanding broadband internet access, and increasing clean energy and R&D studies.
In the package, 621 billion dollars for projects such as the development of roads, bridges, highways, ports, airports and electric vehicle systems, 580 billion dollars for production, R&D and vocational training projects, 300 billion dollars for projects for the construction and improvement of schools and residences, drinking water infrastructure USD 300 billion is allocated for investments in the development of broadband internet access and electricity networks, and USD 400 billion is allocated for the care of the elderly and disabled.
While the package is expected to cost $ 2 trillion in 8 years, the controversial financing will be increased from 21 percent to 28 percent in more than 15 years.
The details of the second part of the plan, which focuses on services such as health and education, are expected to be announced in April.