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On March 31, 2021, President Joe Biden unveiled the American
Jobs Plan (the Plan ), an eight-year, $2 trillion
investment to modernize and improve U.S. infrastructure, generate
jobs and economic growth, and promote American national security
interests. The proposed framework is a key step towards President
Biden s goal of enacting his Build Back Better plan, including
investments to modernize highways and railways, upgrade ports,
expand electric vehicle (EV) infrastructure, upgrade water and
energy infrastructure and expand broadband access. Alongside the
American Jobs Plan, President Biden also proposed the Made in
Budget reconciliation rules mean Democrats don t need 60 votes to pass the bill
Democrats already used the procedure to enact $1.9 trillion coronavirus plan
Means if all Democrats vote yes, it will pass with VP Harris tie-breaking vote
Moderate Democrats including Joe Manchin have called for reduced tax hikes
Republicans, who are not likely to give the bill a single vote, are strongly opposing the huge investment plan
Biden also wants to increase corporate taxes to 28% and implement a global minimum corporate tax rate
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President Biden s American Jobs Plan: A Bold Mandate for Infrastructure Investment | Akin Gump Strauss Hauer & Feld LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
Virginia Sen. Mark Warner said he has expressed some concerns
He wants input before there s any package I could support
Comes as Sen. Joe Manchin said the $2.3 trillion package needs to be changed
Manchin holds major sway in the 50-50 Senate
Parliamentary ruling would allow Democrats to pass it without GOP support
But that gives leverage to every Democrat to press for their concerns
Biden wants to hike corporate rates to 28 per cent
Warner would not comment on that rate hike
Biden on Monday complained about big corporations who paid no income taxes