Welcome to Thursday, April 1st, fools and kings...
President Joe Biden has unveiled an infrastructure package dubbed the American Jobs Plan, which aims to spend roughly $2 trillion on infrastructure over eight years.
This, the first phase of the administration's "Build Back Better" economic agenda, would rebuild "100 percent of the nation's lead pipes and service lines," ensure every American has access to high-speed Internet, and builds, retrofits, or renovates around 2 million homes and housing units.
At $2.25 trillion, it would be the largest stimulus package enacted in U.S. history, surpassing the $2.2 trillion CARES Act that became law at the outset of the coronavirus pandemic.
The spending would reportedly be offset by reversing some of President Donald Trump's 2017 cuts to the corporate tax rate and high-income personal income tax brackets.
Senate Minority Leader Mitch McConnell (R-KY)Â criticized the proposal as a massive tax hike under the guise of infrastructure investment.
Biden touted the plan as "a once in a generation investment" in U.S. infrastructure and "the largest American jobs investment since World War Two."
Do you support or oppose the $2.25 trillion infrastructure package?
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