White House officials on Tuesday briefed lawmakers on a potential $2 trillion infrastructure plan that would fund electric vehicles, public transit, highways, electrical grid and water systems upgrades, broadband internet expansion and semiconductor research efforts, The Wall Street Journal reported Tuesday.
President Biden is scheduled to discuss his administration’s infrastructure package during his speech on Wednesday in Pittsburgh. The package will be the first of a two-part program that seeks to reshape U.S. economic policy and compete with China.
WSJ cited sources that say the infrastructure package would be covered by tax increases, including a rise in corporate tax rate and overseas earnings of companies.
Senior White House aides said they expect Congress to pass the infrastructure bill by summer. The Biden administration plans to release a second proposal focused on child care, education and health care in April as part of the two-part program.