On March 31, 2021 President Biden unveiled his American Jobs
Plan in the form of two massive spending and tax proposals. Policy
makers in Washington are actively debating and preparing to
legislate based on these proposals.
The first proposal, totaling $2.3 trillion, is focused on
traditional infrastructure improvements, broadly defined, and
includes highways, bridges, ports, airports, and transit;
broadband; clean water; electric-grid upgrades; upgrades to
residential, commercial, school, and federal buildings; investments
in the care economy to raise wages and expand services; and
investments in supply chain and R&D. President Biden has
proposed paying for this part of the plan with a hike on the
corporate tax rate, raising the current 21% rate to 28%, additional
taxes on international commerce, and repealing elements of former
President Trump's 2017 Tax Cuts and Jobs Act.
