Infographic: What Is in the American Jobs Plan?
Last Updated June 24, 2021
In May, the Administration released details for the proposed American Jobs Plan. It would be a massive investment in a range of national priorities including transportation, climate change, caregiving, and housing.
The Biden administration has proposed offsetting the spending in the $2.6 trillion package through changes to the corporate tax code, including an increase in the corporate tax rate.
The proposed spending in the American Jobs Plan covers a 10-year window and is broken down in the following ways.
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Further Reading
Some Tax Provisions Are Expiring in 2025 — Here’s What Experts Think About Them
The TCJA lowered taxes for millions of households and made filing simpler for many — all while making the country’s fiscal outlook worse.
How Much Would It Cost to Make the TCJA Permanent?
Most of the individual tax provisions and a handful of business provisions in the TCJA are scheduled to expire in the next few years.
How Did the TCJA Affect Corporate Tax Revenues?
For the first few years after TCJA’s enactment, revenues from corporate taxes dropped sharply, but they returned to pre-TCJA levels starting in 2021.