Americans throughout the nation just last month received their stimulus checks ranging from $1,400 for a single person to $8,400 for a family with four kids and two parents and more depending on the number of adults and dependents.
It didn’t end there. The $1.9 trillion stimulus bill was just signed into law on March 11 and municipalities, states and businesses are still trying to figure out the rules on how they can use it.
But even before that money is spent, the Biden administration and members of Congress are already trying to figure out how they can pass another $2 trillion spending package.
They are pitching it as a needed infrastructure proposal to get support. But it doesn’t stop there.
According to an analysis by National Public Radio, the package includes:
- $400 billion for access to home or community based care for the elderly and people with disabilities.
- $174 billion in electric vehicle investments.
- $10 billion for a Civilian Climate Corps.
- $213 billion for affordable housing.
- $180 billion for research and development, including investing $50 billion in the National Science Foundation and $35 billion “to achieve technology breakthroughs that address the climate crisis.”
- $100 billion in workforce development programs targeted at underserved groups, including $5 billion for violence prevention programs.
The bill includes some actual infrastructure proposals such as $115 billion for bridges and roads, $45 billion to remove lead pipes and $100 billion for high-speed broadband. But that is mixed in with all the other pork.
Then along with that comes the big question: Who is going to pay?
As always, the answer is wealthy corporations, raising the corporate tax rate to 28% from 21%, which ultimately can have an effect on workers’ wages and jobs.
But it’s likely not going to stop there. Waiting in the wings, are additional tax hike proposals including a proposal to increase the estate tax.
A significant amount of resources does need to be put toward our nation’s infrastructure, such as roads that we all depend on. But this proposed bill is not the answer.
To start with, the $1.9 billion in stimulus signed into law less than a month ago needs to get allocated and agencies need to be given clear guidance on how to spend it.
Later on, Congress and the Biden administration can go back and determine what key infrastructure proposals still need funding.
Although it’s hard to believe nowadays based on government spending, money does not grow on the White House lawn trees. There is a cost, even if it’s coming from “rich corporations.”