President Joe Biden’s $2 trillion infrastructure plan, dubbed the American Jobs Plan, is not sufficient and “needs to be way bigger,” Rep. Alexandria Ocasio-Cortez (D-NY) said on Tuesday prior to the proposal’s formal unveiling.
Biden is outlining his $2 trillion plan on Wednesday, which devotes roughly $174 billion to the electric vehicle market, $115 billion to modernize bridges, highways, and roads, $50 billion in semiconductor manufacturing and research, $25 billion in airports, $10 billion investment in enforcement to “ensure employers are providing workers with good jobs,” $10 billion investment for Civilian Climate Corps, and more, as Breitbart News highlighted.
Ocasio-Cortez, however, does not believe it is sufficient, as the $2 trillion proposal spreads out over the next decade.
“This is not nearly enough. The important context here is that it’s $2.25T spread out over 10 years,” she said. “For context, the COVID package was $1.9T for this year *alone,* with some provisions lasting 2 years.”
“Needs to be way bigger,” the New York lawmaker added:
This is not nearly enough. The important context here is that it’s $2.25T spread out over 10 years.
For context, the COVID package was $1.9T for this year *alone,* with some provisions lasting 2 years.
Needs to be way bigger. https://t.co/eTQ7cxuTzF
— Alexandria Ocasio-Cortez (@AOC) March 30, 2021
Biden is expected to formally outline the proposal in Pittsburgh, Pennsylvania sometime Wednesday afternoon. The measure, if passed, would increase the corporate tax rate from 21 percent to 28 percent, soaring over the 25 percent corporate tax rate of Communist China.
Republicans do not appear to be on board with Biden’s economic proposal, particularly as the economy continues to recover from the battering it took during the Chinese coronavirus pandemic last year.
“No president has ever raised business taxes to recover from an economic crisis,” Rep. Kevin Brady (R-TX), Ranking Member of the House Ways and Means Committee, said. “This couldn’t come at a worse time.”