Infographic: What Is in the American Jobs Plan?
In May, the Administration released details for the proposed American Jobs Plan. It would be a massive investment in a range of national priorities including transportation, climate change, caregiving, and housing.
The Biden administration has proposed offsetting the spending in the $2.6 trillion package through changes to the corporate tax code, including an increase in the corporate tax rate.
The proposed spending in the American Jobs Plan covers a 10-year window and is broken down in the following ways.
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Further Reading
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The small, positive fiscal impact from slightly higher economic growth is projected to be more than offset by increased federal interest costs.
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The bill would increase debt by $3.0 trillion over the next 10 years, driving it from nearly 100 percent of GDP now to 124 percent of GDP by 2034.
The Scorekeepers Agree: Budget Bill will Increase U.S. Debt by Trillions
The House recently passed the One Big Beautiful Bill Act, and scorekeepers are unanimous in their assessment that it would increase federal debt.