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Biden sets out 'once-in-a-generation' $2 tn infrastructure plan

Biden sets out 'once-in-a-generation' $2 tn infrastructure plan

13 Sept 13:23 Key points summarised by AI
  • President Biden unveiled a $2 trillion infrastructure plan aimed at modernizing America's transport, telecommunications, and energy networks, creating millions of jobs.
  • Dubbed a "once-in-a-generation" investment, the plan seeks to boost US global competitiveness against China, address global warming, and build a fairer economy.
  • The initiative proposes funding through increased corporate taxes (to 28%) and higher taxes on wealthy Americans earning over $400,000 annually.
  • The plan faces significant opposition in Congress from Republicans and business groups, who criticize it as excessive government spending and harmful tax increases.
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