MORE FREE MONEY!!!
That’s right, we’ve barely had time to spend our last $1,400 and already Biden is tossing another $2Tn onto the fire for “Infrastructure” but I have to agree with Fox on this one as most of it is not about Infrstructure at all but, unlike Fox, I will reserve judgment until the Bill is out later this afternoon.
Biden is looking to roll back the Corporate Tax cuts which led to a 20% jump in the market so, logically, won’t the market drop 20% when the tax cuts get taken away? We’ll see. And, to be fair, this isn’t a quickie bill that pays out next week – this is an 8-year plan for spending that is being paid for by increasing Corporate Taxes for 15 years so, in the coming 8 years, we’ll only go another $1Tn into debt on this plan – unless we elect another Republican President – then, as usual, the sky is the limit for debt spending and tax cuts.
Biden’s proposal includes $621Bn to modernize transportation infrastructure, $400Bn to help care for the aging and those with disabilities, $300Bn to boost the manufacturing industry, $213Bn on retrofitting and building affordable housing and $100Bn to expand broadband access, among other investments. (That Bastard!) The plan calls for modernizing 20,000 miles of roadway; building 500,000 electric-vehicle charging stations; replacing the country’s existing lead pipes and service lines; repairing aging schools; expanding home care for the elderly and disabled; and investing Billions of dollars in domestic semiconductor manufacturing or, according to Fox, it’s Hitler, Mussilini and Stalin rolled into one!
Biden also proposes establishing a standard mandating that increasing portions of the country’s electricity be generated from low-carbon sources, with a goal of eliminating carbon emissions from the power grid by 2035. The proposal requires congressional approval. Mr. Biden’s plan also stresses equity in access to jobs and transportation options, including $20 billion for a new program that would reconnect neighborhoods cut off by past transportation investments as well as research funding for historically black colleges and universities. The plan calls for a national lab to be affiliated with an HBCU that will focus on climate. Will nobody stop this mad man?