Biden prepares $3 trillion economic recovery package

1 month ago

White House advisers will soon present President Joe Biden with a $3 trillion jobs and infrastructure revamping proposal.

The plan, which Biden’s top advisers have been discussing for weeks, would be divided into two parts: one would focus on upgrading infrastructure and introducing clean energy, and the other would focus on what is called the “care economy,” with a focus on key domestic economic issues and combating unemployment.

Overall, this would mark a radical step toward enacting key elements of the “jobs agenda” that Biden outlined during his presidential campaign. This could include potential tax increases for corporations and the wealthy as options to finance long-term spending.

White House officials stressed that no final decisions have been made at this point about the path forward for the plan. Biden still has to review the proposals and consult with Senate Democratic leader Chuck Schumer and House Speaker Nancy Pelosi on the scope and legislative sequencing of the bills.

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