President Biden Proposes Historic $1.75 Trillion Investment Plan

US President Joe Biden announced the new lines of his “historic” investment plan on Thursday. The White House reports that. Biden is confident that all factions of the Democratic Party will support the plan.

 

The “Build Back Better” plan has been causing tensions within Biden’s party for weeks. “After months of intense negotiations, we have a framework for the proposal that I believe can make it,” Biden tweeted hopefully on Thursday.

The president had initially been set aside $3.5 trillion for investment in social services and climate protection. But with this, he quickly encountered resistance from several Democrats. The party’s moderate wing thought this amount was going too far and forced the president to halve it to $1.75 trillion.

With the new plan, Biden hopes to support 50 Democratic senators and the House of Representatives. Then, with a visit to the Democratic caucus in the House on Thursday, Biden convinces Democratic doubters of his proposal.

Among other things, the investment package would make childcare cheaper, reduce taxes on families and significantly expand health services. In the fight against climate change, Biden mainly wants to invest in renewable energy sources and make it tax-efficient to buy an electric car to reduce greenhouse gas emissions.