I’m sure we can all agree that Joe Biden has done a lot in his first months, whether we hate it or like it. From things like the stimulus bill to the COVID-19 vaccination plan, Biden has worked very hard in the past 100 days. However, we all know that he isn’t finished yet as Biden has set his sights on an infrastructure bill.
The infrastructure bill is focused on improving roads and bridges, implementing green projects like charging stations, improving power grids, and spreading broadband. The bill was originally set at 2.1 trillion, but Republicans were resisting, so they revised it to 1.7 trillion. Biden wanted bipartisan support on the bill, but he did not receive that as the Republicans rejected it once again. This created some political turmoil with Democrats announcing that the Republicans have about a week to negotiate, and if they choose not to, the Democrats will move ahead with the plan. The ultimatum was pretty serious, but it showed how divided the government was about the bill.
There are positives and negatives to the bill, like there is with everything. The bill will create many jobs, helping the economy and the labor market get out of its current hole, while also increasing government spending to create a well-connected economy. However, its funding mechanism could be an issue, with Biden planning to increase corporate taxes. That would hurt companies, though many don’t feel too bad about that. What do you think about Biden’s infrastructure bill?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.