A Democrat who runs the country will consider every option to help pay for another record-breaking relief package, a Biden administration official revealed.
The White House suggested President Joe Biden could raise taxes to pay for his next Chinese Communist Party (CCP) virus stimulus bill.
“The total package, we are still working out but he is going to introduce some ways to pay for that and is eager to hear ideas from both parties as well,” Press Secretary Jen Psaki said in a video shared on YouTube.
Psaki revealed there are likely to be two separate packages, one that encourages building major infrastructure projects and another mainly focusing on health care, child care, and helping more women return to work.
“[There are] two separate proposals, and we will work with the Senate and the House to see how it should move forward,” she said. “Roads, railways, rebuilding them … a lot of issues that Americans are struggling with–child care, the cost of health care.”
Although no official estimates have been announced for how much the packages could cost, Biden advisers previously suggested a “price tag of between $3 trillion and $4 trillion for new legislative action, including repairing the country’s crumbling infrastructure and tackling climate change,” according to an anonymous White House official quoted by Reuters.
Another source suggested the same advisers expect the figure is likely to be up to $3 trillion for “infrastructure and other priorities they are discussing with the president this week,” according to The Hill.
Psaki confirmed the proposal is part of the American Rescue Plan, which aims to rebuild the national economy after the CCP virus recession. She also revealed the plan seeks to make wealthy Americans contribute more of their hard-earned money to the Internal Revenue Service.
“He is focused on building our economy back better, and ideas he talked about on the campaign trail, from investing in infrastructure to caregiving to making sure the tax code rewards work and not wealth,” she said on Twitter.
Biden is expected to announce further details on March 31 when he is scheduled to deliver a speech about the package in Pittsburgh, Pennsylvania.
“He is going to have more to say later in April about the second part of his recovery plan,” Psaki said. “That is what they can expect to hear from him.”
According to Congressional Budget Office data obtained by Fox News, America already owes more than $28 trillion and national federal debt is expected to double to 202% of the gross domestic product in the next three decades.