The Biden administration is reportedly already planning to push forward another massive coronavirus relief bill despite having just passed and signed a trillion-dollar relief package. The news comes as many Americans have yet to receive the recently approved $1,400 stimulus payments. According to Biden spokeswoman Jen Psaki, the new bill would include increased funding for healthcare and education — two industries that received major handouts in the $1.9 trillion American Rescue Plan Act.
Biden is, in fact, scheduled to debut a “multi-trillion-dollar” infrastructure investment bill later this week during a trip to Pennsylvania, but the president had yet to specify whether that initiative was also a COVID-19 relief project. According to Psaki, it may, in fact, be the first over several pandemic-oriented bills, all with price tags over $1.9 trillion — more than Biden’s first bill.
“The next major initiative is – and I’ll be announcing it Friday in Pittsburgh in detail – is to rebuild the infrastructure, both the physical and technological infrastructure of this country so that we can compete and create significant numbers of really good-paying jobs,” Biden said during his press conference last Thursday.
Fox News notes that the “specific contours of the next big-ticket spending package are still unclear, but the measure is widely expected to include a slew of taxes hikes, including raising the corporate tax rate to 28% from 21%, increasing the income tax rate on individuals earning more than $400,000, expanding the estate tax, creating a higher capital-gains tax rate for individuals earning at least $1 million annually and paring back tax preferences for so-called pass-through businesses.”
The bill, though, is already being packed full of non-infrastructure spending. Democrats plan to use the $3 trillion bill to sneak through changes to drug policy, environmental policy, and even immigration, according to Politico. “The Congressional Hispanic Caucus wants to include the White House’s immigration bill, which would offer a path to citizenship for 11 million people who have been living in the U.S.,” the outlet noted Friday, adding that other Democrats see the bill as a way to push through parts of the Green New Deal.
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