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
The President’s Budget Doesn’t Address National Debt, and Calls for Highest Defense Spending in History
For the second year in a row, the Trump Administration has submitted a budget that excludes key fiscal variables such as debt and deficit projections.
Tax Reform Alone May Not Be Enough to Stabilize the National Debt
A new report from the Tax Foundation breaks down the drivers of the fiscal imbalance and concludes that tax increases alone cannot solve the problem.
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.