The 1.2 trillion U.S. dollar infrastructure bill passed allows Biden to realize his ambition to build a better America again.
President Joe Biden When the $1.2 trillion infrastructure bill was approved by the National Assembly, I couldn’t hide my joy pass through On November 6, it was announced that he was fulfilling two important campaign promises, including restoring the economy and vaccinating the American people.
Biden said at the White House: “We did what we should have done a long time ago. This matter has been discussed in Washington for a long time, but it has never really been done.”
Once Biden is signed into law, this will be the largest federal investment in infrastructure projects in the United States in more than a decade.
“When I took office, almost everyone said’you can’t let the economy grow’,” he said. “They also said that in the beginning I couldn’t get Americans to get 2 million doses of vaccines a day, or 200 million doses. I will not criticize those who say that now.”
1.2 trillion dollar infrastructure bill and construction plan America The $1.75 billion “Rebuild Better” has been repeatedly hailed by the White House as a historic investment. It is part of Biden’s ambition to “return the United States” and is expected to push the U.S. economy forward for many years to come.
With the passage of the infrastructure bill, Biden’s ambitions are closer to reality than ever before, and the negotiation process of “rebuilding better” has also made considerable progress in Congress.
If Congress also passes “Rebuild Better,” the United States is expected to spend about $3 trillion in the next ten years. This amount is expected to exceed President Franklin D. Roosevelt’s famous New Deal economic policy and greatly increase its role. Government in the U.S. economy.
Basically, Biden’s comprehensive policy aims to increase the country’s manufacturing capacity, increase the number of American workers, and create a fairer and more equal economy after decades of fighting for low- and middle-income Americans.
The “Infrastructure Act” is a major investment in bridges, ports, oil pipelines, etc., aimed at promoting commerce, freight, and travel in the United States.
The Build Back Better Act focuses on investing in childcare, 3-4 year old preschool education, paid parental leave, and aged care. These measures are expected to help Americans, especially mothers, to take care of their young children and elderly parents easily in their careers.
When the two bills were signed into law, the Oxford Economic Research Institute and Moody’s Analytics estimated the growth rate of the US economy and how many jobs will be added in the next few years.
Gregory Dakko, an economist at the Oxford Economics, said: “Together with the Infrastructure Act, rebuilding better is an important driving force for economic activity.”
When the infrastructure bill becomes law, although there are still many obstacles to be resolved, many Democrats are optimistic that “rebuild better” will soon be passed.
Since becoming a senator in the 1990s, Biden has been proud of his ability to find common ground with opponents to pass major bills. As president, after weeks of debate in the House of Representatives, it is difficult for him to “push the infrastructure bill to the end”.
Biden and his aides continued to talk over the phone on the evening of November 5 to ensure that the wavering Democratic Party will not be discouraged. Progressive people in the party hope to use the infrastructure bill as a lever to ensure that Biden’s social spending plan can also pass.
After the bill was passed, Biden even called the important member of the party and the mother of Representative Pramila Jayapar, which was a familiar behavior for Biden.
Biden also talked with moderates in the Democratic Party, who feared that the president would spend too much time pursuing ambitious plans without paying enough attention to important issues. For some Democrats, the party’s defeat in the Virginia governorship race last week is a lesson.
Abigail Spanberg, a Democrat of Virginia, said: “There was no one who chose him to be Franklin D. Roosevelt. They just chose him to get things back to normal and stop chaos.”
However, Biden firmly defended his plan to rescue Americans through social projects in the “Rebuild Better” Act.
“I don’t intend to be anyone other than Joe Biden. This is who I am,” he said. “Since Covid-19, ordinary, hardworking Americans have indeed been caught in a crossfire in the past few years.”
Biden added that Democrats should view the failure of the Virginia governor election as a driving force to advance their plan. “Voters want us to take action. Last night, we proved that we can take action,” he said.
Many policy experts also believe that substantial investment is needed to make the US economy compete with China and other major powers. They added that when interest rates are at historically low levels, now is a good time to invest in infrastructure.
“This is closely related to our economic future,” said Betsey Stevenson, an economist at the University of Michigan.
Although there is no guarantee that the “Rebuild Better” plan will be approved by Congress, Biden is optimistic that his ambitions will be realized sooner or later. Biden said: “I believe we will have enough votes to pass this plan.”
When the reporter asked him what gave him this confidence, Biden replied: “It’s me.”
Tan Tan (follow New York Times, Washington Post, NPR)