Category: Joe Biden

The GOP claim that only 5 to 7 percent of Biden’s plan is for ‘real infrastructure’

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“You look at this bill, the $2 trillion in the bill that, only about 5 to 7 percent of it is actual roads and bridges and ports and things that you and I would say is real infrastructure and that we tried to get passed under the last administration with President Trump.”

— Russell Vought, former director of the Office of Management and Budget, on the “Brian Kilmeade Show” on Fox News Radio, April 1

Republicans are trying to brand President Biden’s $2.3 trillion infrastructure plan with a new talking point, claiming there is barely any infrastructure in it.

Different variations of this GOP claim have begun to surface since Biden unveiled his proposal last week. Vought, who served as director of the Office of Management and Budget under President Donald Trump, pushes the criticism to misleading extremes by saying that only 5 to 7 percent “is actual roads and bridges and ports and things that you and I would say is real infrastructure.”

Granted, the Biden plan includes large expenses such as $400 billion to expand home-care services and more than $100 billion in electric-vehicle incentives and purchases, among many other items that do not fit the traditional definition of public infrastructure as concrete-and-steel structures for transportation, and wires and pipes for utilities. Continue reading.

Lawmakers say fixing border crisis is Biden’s job

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Lawmakers on Capitol Hill say Congress has little role to play in fixing the border crisis, arguing the responsibility falls largely on President Biden and federal agencies.

While most members say they’ll provide more resources if the president asks, they also point out that there’s not much they can do on the legislative front.

Sen. Jon Tester (Mont.), a moderate Democrat, says he doesn’t know what Congress can do immediately to address the surge of migrants at the border, many of them unaccompanied children. Continue reading.

Biden jobs plan seeks $400 billion to expand caretaking services as U.S. faces surge in aging population

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White House, lawmakers remain at odds over broader spending package.

President Biden’s jobs plan proposes a massive investment in home care for the elderly and people with disabilities, as America’s caretaking system faces strain from the nation’s looming demographic challenges.

The White House’s American Jobs Plan calls for spending about $400 billion over eight years on “home- or community-based care” for the elderly and people with disabilities. That amounts to roughly a fifth of the overall price tag of Biden’s plan, the first of two related economic proposals expected from the White House.

The push to substantially expand in-home health-care services was one of the last major provisions added to the jobs plan, according to two people with knowledge of internal White House deliberations. The people spoke on the condition of anonymity to discuss internal matters they were not authorized to disclose. Continue reading.

White House hopes to see infrastructure bill passed by summer

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President Biden hopes to see Congress pass his infrastructure and climate proposal by this summer, White House press secretary Jen Psaki said Thursday, setting a slightly longer timeline than his recently enacted coronavirus relief package.

Psaki told reporters at an afternoon briefing that the extra time will allow for more White House negotiations with congressional Republicans and Democrats, particularly since the legislation does not carry the same level of urgency as the American Rescue Plan that was signed into law last month.

Still, she said Biden would like to see “progress” by the end of May. Continue reading.

Billions in New Obamacare Subsidies Are Now Available on Healthcare.gov

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Nearly everyone with a marketplace health plan can seek more financial help. Many uninsured Americans and people who buy their insurance elsewhere can also benefit.

Federal officials have reprogrammed Healthcare.gov, making new benefits available to tens of millions of Americans, weeks after Congress authorized spending billions on additional health law subsidies.

The Biden administration has doubled Obamacare’s advertising budget to get the word out, and will now spend $100 million telling Americans about newly affordable options.

Nearly everyone with an Affordable Care Act health plan can now qualify for increased financial help with premiums by going back to the website. Many Americans who buy their own insurance outside the A.C.A. marketplaces may also qualify for substantial help, and may benefit from reviewing options and switching to an eligible plan. Uninsured Americans also qualify. Continue reading.

Nobel Prize-winning economist: Biden’s spending plan could help US break out of a ‘bad equilibrium trap’

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A Nobel Prize-winning economist is lauding President Joe Biden’s proposed $4 trillion infrastructure spending plan as he believes the plan could revitalize the United States economy. 

During an exclusive interview with Axios, Columbia University Professor Joseph Stiglitz offered his take on Biden’s plan. Not only is he endorsing the president’s plan but also looking forward to the positive effects and how it could help the country break out of its “bad equilibrium trap.”

“We’ve been for the last two decades in an abnormal environment, we’ve been in a bad equilibrium trap,” he said. “The inequality means people don’t have demand, a lack of demand means we don’t invest, so we’ve been in a very bad, vicious circle and I’m optimistic that this may break us out into a new period of strong growth, which is more egalitarian.” Continue reading.

White House moves to reshape role of US capitalism

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The White House is pushing an infrastructure bill that could reshape the discussion around capitalism as it seems to reestablish the federal government as a primary driver of how the economy should grow and function.

In addition to traditional infrastructure projects, Biden’s $2.25 trillion American Jobs Plan would make government investments in broadband, electric vehicles, climate change, elderly care, child benefits, housing and developing future technologies. 

It would redefine classic infrastructure projects to include investments in workers and families paid for by tax hikes on corporations. Continue reading.

Biden’s Big Bet: Tackling Climate Change Will Create Jobs, Not Kill Them

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WASHINGTON — In 2017, as Donald J. Trump was announcing the United States’ withdrawal from the Paris climate accord, the largest global effort to attack planetary warming, he declared, “I was elected to represent the citizens of Pittsburgh, not Paris.”

On Wednesday, President Biden traveled to Pittsburgh to try to make the opposite case: that the workers Mr. Trump was appealing to have more to gain from combating climate change than to lose.

It is going to be a tough bet. To Mr. Biden, a $2 trillion infrastructure plan is about creating union jobs, hundreds of thousands of them, in wind and solar power, electric cars and road- and bridge-building. Even those more basic infrastructure projects would have a climate angle: the new roads and bridges would be built to withstand the high waters and brutal storms of a changing climate.

“I am a union guy. I support unions, unions built the middle class. It is about time you start to get a piece of the action,” Mr. Biden said in Pittsburgh. Continue reading.

Janet Yellen: Climate change poses ‘existential threat’ to financial markets

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The FSOC focused on climate for the first time since Congress established the body in 2010.

Treasury Secretary Janet Yellen on Wednesday called climate change “an existential threat” and the biggest emerging risk to the health of the U.S. financial system, pledging to marshal regulatory forces to guard against its harmful effects.

Yellen made the promise during her inaugural appearance as the head of the Financial Stability Oversight Council, a panel of top regulators tasked with policing Wall Street behavior that has the potential to crash the entire economy.

The council held its first public meeting under Yellen’s leadership Wednesday and focused on climate for the first time since Congress established the body in 2010. The group includes the heads of the Federal Reserve and the Securities and Exchange Commission. Continue reading.

EPA dismisses dozens of key science advisers picked under Trump

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The Biden administration says it needs to restore trust in the agency by ‘resetting’ membership on two key science advisory panels.

Environmental Protection Agency Administrator Michael Regan will purge more than 40 outside experts appointed under President Donald Trump from two key advisory panels, a move he says will help restore the role of science at the agency and reduce the heavy influence of industry over environmental regulations.

The unusual decision, announced Wednesday, will sweep away outside researchers picked under the previous administration whose expert advice helped the agency craft regulations related to air pollution, the oil-and-gas extraction method known as fracking and other issues.

Critics say that, under Trump, membership of the two panels — the EPA’s Science Advisory Board (SAB) and Clean Air Scientific Advisory Committee (CASAC) — tilted too heavily in favor of regulated industries and that their positions sometimes contradicted scientific consensus. Continue reading.