The president will promote million-dollar investments and a police reform.
US President Joe Biden plans to announce a $ 1.8 trillion package of measures for homes and education on Wednesday in his first speech to both houses of Congress, underscoring the need to invest to compete with China, White House sources said.
Biden is expected to use the speech to argue that the new package – which added to an earlier infrastructure and jobs plan amounts to about $ 4 trillion – is vital to America’s future.
To make tonight’s joint address accessible for all Americans, every White House livestream will have American Sign Language (ASL) interpretation for the first time in history. You can learn more about how to tune in here: https://t.co/0MicNU8f7S
— President Biden (@POTUS) April 28, 2021
The president will also ask congressmen to pass laws to curb police violence, according to senior officials. Biden will highlight the repeated killings of black citizens at the hands of the police and the years of ingrained racism in society, while he will honor the service of the vast majority of officers.
The plan to be detailed on Wednesday includes $ 1 trillion in new investments over 10 years in education and childcare, and $ 800 billion in tax credits targeting low- and middle-income households, White House sources said.
“These are the highest value economic investments we can make for our future economic competitiveness,” said one official, while another described the plan as a “one-time investment in a generation.”
Republican lawmakers have already rejected the more than $ 2 trillion infrastructure plan as too big. The Democratic president is betting that his spending plans, popular with voters, can convince Republicans in Congress to cooperate with the White House.
To fund the plans, Biden has proposed an overhaul of the tax system. The plan is funded by raising the marginal tax rate above 39.6 % and by nearly doubling the investment income tax for Americans earning more than $ 1 million. The infrastructure plan is financed with a corporate tax.
In addition to police reform, Biden will talk about foreign affairs, how his government has managed the coronavirus pandemic and the vaccine situation.
A senior congressional official said Biden is expected to “be tough on China,” pointing to frequent calls for a stronger line against Beijing by both Republicans and Democrats. (Reuters)