Third stimulus check news overview: March 30, 2021
Third stimulus check news overview: March 30, 2021

Third stimulus check news overview: March 30, 2021

Bid to explain the financing of the $ 3 trillion infrastructure plan on Wednesday – The White House

US President Joe Biden will outline how he would pay for his $ 3-4 trillion plan to tackle US infrastructure needs on Wednesdayconfirmed the White House on Monday, a proposal that is likely to include tax increases that were first put on the campaign track.

The bite will lay the plan, ie aimed at rebuilding roads and bridges as well as tackling climate change and domestic policy issues such as incomein Pittsburgh, Pennsylvania.

The president has a plan to repair the infrastructure in our country … and he has a plan to pay for it“White House spokeswoman Jen Psaki told reporters. She did not elaborate, but some economists and analysts say the proposal may include the largest overall tax increase in decades.

While campaigning for the presidency ahead of the November 2020 election, Biden proposed reducing the corporation tax and increasing the tax on the wealthy.

The plan is likely to spark a heated debate among congressional Democrats and Republicans over taxes and spendingjust weeks after Biden used a narrow Democratic majority in the Senate and House of Representatives to obtain approval for a $ 1.9 trillion pandemic stimulus bill.

Biden has previously ruled out raising taxes on individuals earning less than $ 400,000. Other voices in his party have called for a “wealth tax,” and Transport Minister Pete Buttigieg last week shot the idea of ​​a mileage tax. Studies show that more spending is needed to rebuild America’s crumbling roads, bridges and airports.

The bid’s legislative efforts are expected to be divided into two partsone introductory package that addresses traditional transportation projects and another that addresses domestic priorities, such as universal kindergarten, national child care, and free community college education, White House officials say.

(Reuters)

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