President Joe Biden and his administration’s multi-trillion-dollar infrastructure package that aims to reduce carbon emissions, boost the continuing economic recovery, and lessen economic inequality has been in the talks for a while. Currently the bill spends most of its money on Biden’s long-term economic goals, including $1 trillion in spending to improve bridges, roads, electric vehicle charging stations, telecommunications networks and more. The goal would be to make it easier for the country to switch to renewable energy while still increasing its economic competitiveness. Another package component would include investments in workers — providing free community college, universal pre-kindergarten, and paid family leave.
Despite the aims of Biden’s bill, not all bills are made the same. In fact, one of the most recent infrastructure bills, introduced by the senate, would cut COVID aid to businesses. More specifically, the bill which is called The Infrastructure Investment and Jobs Act — a $1 trillion bipartisan bill — would permanently rescind $13.5 billion from The Economic Injury Disaster Loan program which was one of the means Congress used to help businesses stay afloat during the pandemic. What do you think about the bill? Will it help stimulate the economy in a more efficient way? Has it been long enough to pull money from businesses? And if it does hurt businesses? Will Biden’s plan counteract its effects – or only magnify them? There’s a lot of questions to be asked with this bill and how it plays out is something to keep an eye on (so stay tuned to Invstr Crunch).
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.