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.
Further Reading
A Gas Tax Holiday Costs Billions, But Consumers See Only Marginal Savings
If the full savings from the gas tax holiday were passed on to consumers, the average licensed driver would only save approximately $8.90 per month.
How Does the Capital Gains Tax Work, and What Are Some Proposed Reforms?
While the capital gains tax affects anyone selling a capital asset, higher-income individuals are typically subject to the tax more so than average Americans.
Social Security’s Funding Gap is 1.3% of GDP — Here’s How We Can Close It
Social Security is an integral part of the nation’s fiscal picture and a vital economic lifeline for millions of recipients.