Earlier this week, Tesla Inc (NASDAQ: TSLA) announced that customers could now buy a Tesla with Bitcoin (CRYPTO: BTC), but Ark Invest s Cathie Wood isn’t so sure investors should use it as a means of payment.
What Happened: In a webcast hosted by CBOE, Wood said that those that. Read More.
An ideal infrastructure plan would spend $10 trillion, Rep. Alexandria Ocasio-Cortez said.
The plan Biden unveiled Wednesday is encouraging in scope but can be bigger, she said on MSNBC s Rachel Maddow Show.
A larger plan could create tens of millions of jobs and vastly improve housing and health care, she said.
President Joe Biden has repeatedly said he aims to go big with plans to revitalize the US economy. For Rep. Alexandria Ocasio-Cortez, the administration s $2 trillion infrastructure plan isn t big enough.
The president unveiled the American Jobs Plan on Wednesday as a follow-up to the $1.9 trillion stimulus approved in March. The package includes spending on traditional infrastructure projects like roads and bridges as well as measures to cut down on carbon emissions and address the country s housing shortage. The bill s massive price tag is meant to be spread out over eight years, completely paid for over 15 years by tax hikes for corporations.
Expecting the expected
Markets yawn on Biden infrastructure announcement
President Biden released the first details of his highly anticipated infrastructure programme overnight. The package itself totalled around USD2.25 trillion of spending over 10 years, with approximately USD1.60 trillion of corporate tax rises phased in over 15 years. No mention was made of higher income taxes for higher earners or capital gains taxes, but one suspects that will come when the President announces the details of the remainder of his USD1 trillion wish list.
Net-net, the package looks to be roughly revenue-neutral over the next decade, give or take USD500 billion here or there, which should help ease it through the Senate reconciliation process. Of course, getting it past his own party will be the initial challenge, and we can expect a few months of tortuous progress ahead through both Democrat and Republican objections.
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