In an attempt to make the US economy more prosperous and productive, proposals are being planned that would invest in education, fighting climate change, workforce development, and infrastructure.
The economic advisors of President Biden are all set to unleash a mighty package worth 3 trillion US dollars with the aim to reduce the emissions of carbon, boost the economy and narrow down the inequality in the economy. All this is, to begin with, a great infrastructure plan which will be financed in part through the increase of taxes on the rich and corporations.
After many months of debate, the advisors of President Biden are set to offer the proposal of spending to the congressional leaders and the President this week. They will also start reaching out to the labor groups and the industry.
The national climate advisor to the President, Gina McCarthy, has discussed the infrastructural plans she had and the crucial role of the plan to fight against the climatic changes in a meeting with the executives of the industry of oil and gas.
The extremely widened scope of the massive proposal indicates an aggressive approach of Biden’s administration to empower the federal government with the aim of making the US economy address climate change, making it more equitable, and making immense improvements in American Manufacturing amid the escalating battle with China.
Biden signed into law the $1.9 Trillion package of economic aid that is set to help the people who are vulnerable and businesses that are yearning to survive during the pandemic.
Seth Hanlon, who is a senior fellow at the liberal Center for American Progress says that the plans of President Biden are stunningly pleasing with evident shifts in priorities aiming to address the most crucial challenges. It is in much contrast to the plans of Donald J. Trump. Seth calls the plan quite wide-ranging and that it reflects how many of the important areas were left underinvested previously.
The plan aims towards investing heavily in high-growth industries of the times to come and in clean energy development. It takes into account money for the training of millions of workers, rural broadband, and 1 million energy-efficient units of housing.
The VP and Chief Policy officer at the U.S Chamber of Commerce, Neil Bradley, however, says that he isn’t sure about whether trying to solve many major issues in a single bill would lead to success or not. According to him, the aims of the plan shouldn’t have belonged to one single package.