Biden’s ambition is to improve the lives of all Americans. “This is a break from Donald Trump’s presidency,” said Christoph Krumbez, a political economist at the Stanford Institute for International Studies. Trump cut a budget hole with his tax cut that ultimately benefited the richest Americans by 1%.
Congress has yet to approve the plan. There, the Democrats can again expect opposition from the Republicans, who are already vehemently protesting plans to raise taxes. The president acknowledged in his speech that this would be a pain point, but said he was open to other ideas to fund the plan.
Biden’s new plan comes shortly after Congress approved a plan aimed at recovering from the Covid pandemic. About $ 2 trillion has been earmarked for this purpose. President Biden is on his way to a quick start, but he has to do it, says Christoph Crombez: “Biden has less than two years to fulfill big plans. Then there will be congressional elections again and the Democrats could lose their majority. To make the same mistake. Like the president.” Obama. “