Infographic: What Is in the American Jobs Plan?
Last Updated June 24, 2021
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
No Tax on Social Security Would Weaken Both Social Security and Medicare
Republicans in Congress are considering several new tax cuts that would reduce federal revenues by trillions of dollars over the next decade.
Here’s How No Tax on Overtime Would Affect Federal Revenues and Tax Fairness
Excluding overtime pay from federal taxes would meaningfully worsen the fiscal outlook, while most of the tax benefits would go to the top 20% of taxpayers.
No Taxes on Tips Would Drive Deficits Higher
Eliminating taxes on tips would increase deficits by at least $100 billion over 10 years. It could also could turn out to be a bad deal for many workers.