Just weeks after the passage of the $1.9 trillion package, the Biden Administration is now discussing a $3 trillion package that is aimed at U.S. infrastructure and healthcare.
On Fox News Sunday with Chris Wallace, Press Secretary Jen Psaki mentioned the package was to help “Healthcare, child care, and Infrastructure.” Psaki announced that Biden will have “more to say” in April on this second phase package.
With the pandemic still active across the globe, countries have scrambled to push comprehensive economic solutions to prevent high unemployment and unstable conditions among workforces. So far, Democratic officials in the House and Senate are proposing stimulus packages that could cost upwards of $3 Trillion. Psaki stated that “Our country is ranked 13th when it comes to infrastructure,” emphasizing one of the reasons why there is a sense of urgency on the Democratic side in creating a bill aimed at building a stronger and safer national infrastructure.
Being now a year since the pandemic started in the U.S. there has been 3 stimulus packages that were signed into law. Two stimulus packages were under the Trump administration and one just recently under the Biden administration. The Biden Administration is working on a second stimulus package as part of a 2 part package considered to be “Rescue and Recovery” for the American people. “President Biden’s plan represents a stunning shift in priorities, addressing many of the nation’s most pressing challenges,” said Seth Hanlon, a senior fellow at the liberal Center for American Progress think tank, contrasting the plan with the priorities of Biden’s predecessor President Donald Trump. “As reported, the plan is very wide-ranging, reflecting the fact that we’ve underinvested in so many areas.”
Just how to approach the legislative strategy is still under discussion given the size of the proposal and the thin majority that Democrats hold in the House and the Senate. Whether it can muster Republican support will depend in large part on how the bill is paid for. Critics are warning of the future economic consequences that these stimulus packages have, reminding citizens that our current national debt stands at a towering $28 trillion. “I don’t think there’s going to be any enthusiasm on our side for a tax increase,” Senator Mitch McConnell of Kentucky, the Republican leader, told reporters last week. He predicted the administration’s infrastructure plan would be a “Trojan horse” for tax increases.
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ARTICLE: JACOB KOVACS
POLITICS EDITOR: CARSON CHOATE
PHOTO CREDITS: CNBC