Biden to unveil $1. 8 trillion U.S. infrastructure plan

4 minutes

Washington, April 28 - Former U.S. President Joe Biden plans to unveil a sweeping $1.8 trillion package for schools and education in his first joint speech to Congress on Wednesday as he emphasizes the need to invest to compete with China, the White House said.

Biden will argue that the latest United States House bill, which together with an earlier infrastructure and jobs plan totals about $4 trillion, is a once in a generation investment vital to America's future.

The U.S. president will also plead directly with lawmakers to pass a legislative bill to curb police violence, senior administration officials say. Biden will highlight the repeated killings of Black citizens and years of entrenched racism, while also honouring the service of the vast majority of officers.

The plan includes $1 trillion in spending on education and child care over 10 years and $800 billion in tax credits for middle and lower income families, according to a White House fact sheet.

The spending plans reinvest in the future of the American economy and American workers, and are likely to help us out-compete China and other countries around the world, it said.

The more than $2 billion plan for infrastructure projects has already been rejected by Republican legislators as too large. The American president is betting that his spending plans, which are largely popular with Democratic voters may propel Republicans in Congress to cooperate with the White House.

For the plan payments, Biden has proposed an overhaul of the American tax system. The American Families Plan was funded by Increasing the top marginal tax rate to 39.6 percent for the richest Americans of all time. It nearly doubles the tax on capital gains known as investment income for Americans who earn more than $1 million. The proposed infrastructure plan is funded by corporate tax.

The news of the tax proposal last week briefly sank stock markets.

The Biden Administration says the tax reform plan is designed to reward wealth and wealth, and reform the tax code so that the wealthy have to play by the same rules as everyone else.

Biden will use his speech to signal openness to bipartisan compromise on the policing problem, speaking positively about negotiations for a reform bill in Congress Biden of South Carolina is set to give his party's rebuttal to Tim Scott's speech in the United States Senate, with police reform expected to be among the issues.

In addition to the police reform, Biden will discuss foreign affairs, how his administration handled the coronavirus pandemic and the status of vaccinations.

One senior congressional aide said Biden is expected to show for Beijing, making frequent calls to take a harder line against China from both Republicans and Democrats.

In his decades in the United States Congress, Biden attended dozens of his predecessors' joint events at the election. The scene that he faces when he takes the podium at the House of RepresentativesHouse of Representatives during a pandemic will look very different.

Only 200 people, mostly lawmakers and a handful of representatives of other branches of government and family members will attend the masked, socially distanced speech.

That is a far cry from the 1,600 officials, friends and guests that typically gather in a presidential speech.

However, the nationally televised address addresses an audience far beyond the smaller crowd on Capitol Hill. Donald Trump's first address to a joint session was watched by some 48 million people in 2017.

The American Families Plan and the Infrastructure and Jobs Plan that the President-elect said in November could represent the largest government transformation of economic system in decades.

The plan being unveiled on Wednesday includes $200 billion for free universal preschool for three and four-year olds and $109 billion for free community college for two years, irrespective of income.

It proposes $225 billion in funding to help parents pay for child care and boost child care workers' salary. Family members would pay no more than 7% of their income on child care for children under 5, saving the average family $14,800 each year on child care expenses, senior White House officials say.

The investments are paid in full over a period of 15 years, said an administration official. The exact meaning of a quote is to remember your actions, but remember that you love it.

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