Leela

What is Joe Biden planning for the American economy?

By Leela, G10

On Wednesday 20th of January, A new president was elected.

Who is Joe Biden?

Joseph Robinette Biden Jr (Born 20th November 1942) Is an American politician who is currently serving as the 46th president of the united states. He also served as the 47th Vice president under the Obama administration from 2009-2017. He was also a senator for delaware from 1973 to 2009. He announced candidacy for the 2020 presidential elections in april of 2019. He is a member of the democratic party and has center right ideologies.

What about the new VP?

Kamala Devi Harris, born October 20 1964 is an American politician and attorney who is the 49th and current vice president of the United States. She is the United States' first female vice president, the highest-ranking female elected official in U.S. history, and the first African American and first Asian American vice president.

She served as a senator for the state of california from 2017 to 2021, and was the attorney general of california from 2011-2021. She is also a member of the democratic party

Joe Biden campaigned on an economic platform focused on shoring up the middle class, extending healthcare, raising taxes on the wealthy, and investing trillions of dollars in green energy infrastructure, among other issues. He also has the challenge of dealing with the rising costs of battling the coronavirus pandemic, and the economic damage it has caused.

What is the top line agenda?

• Provide health insurance coverage for 97% of Americans in 10 years.

• Raise an additional $4 trillion in tax revenue by increasing top tax rate to 39.6%, taxing capital gains at ordinary rates and raising the corporate tax rate to 28%.

• Forgive student loan debt and make college free for those making up to $125,000.

• Raise minimum wage to $15 an hour and repeal "right to work" laws.

• Expand "Buy American" policies through government purchasing, while using subsidies, federal matching, and incentives to make American products more competitive.

• Invest $1.3 trillion in infrastructure over 10 years.

• Spend $2 trillion on clean energy during first term as president.