On March 31st, local time, US President Biden delivered a speech in Pittsburgh, Pennsylvania, and announced a $2 trillion infrastructure plan. The eight-year plan is part of the Biden-Harris administration’s "Build Back Better" plan, which aims to rebuild the aging infrastructure in the United States, promote electric vehicles and clean energy, and create employment opportunities.
The infrastructure plan announced by Biden includes four major items: first, investing in transportation infrastructure and establishing an "elastic infrastructure" that can withstand weather disasters. The second is to transform and build more than 2 million sets of affordable housing and commercial real estate, replace all lead pipes and service cables in the country, and invest in universal broadband. The third is to improve the nursing economy, help the elderly and the disabled get affordable medical care, and expand the number of nursing staff. Invest in climate research and manufacturing. The fourth is to raise corporate tax to pay for the eight-year expenditure plan. Biden proposed to raise the corporate tax rate to 28% and the minimum tax rate for multinational corporations to 21%. (CCTV reporter Xu Wei)