President Biden has announced the details of his 2.25 trillion-dollar infrastructure plan. The details of the plan, named “The American Jobs Plan,” can be found here. The sweeping plan includes a focus on areas such as:
- Transportation Infrastructure
- Public Utility Infrastructure
- Homecare Health System Infrastructure
- Green Energy Investments
- Repeal of Right to Work and Prevailing Wage Requirements
Alongside the President’s infrastructure plan, the administration released the details on how these investments would be paid for through “The Made in American Tax Plan,” The tax plan would significantly increase taxes on businesses and individuals to a level that could be the highest seen in years, negatively impacting businesses already struggling from the impacts of Covid-19 and shutdowns. While investment in our country’s infrastructure is critical, the major tax hike on the country’s job creators could slow our economic recovery given the pandemic and the uncertainties that remain.