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President Biden on Wednesday proposed a $2 trillion infrastructure package that could transform America's physical and economic landscape.

Axios Re:Cap speaks with White House economic adviser Jared Bernstein about the plan and the politics.

Go deeper

Updated Mar 31, 2021 - Politics & Policy

Biden unveils sweeping American Jobs Plan

Photo illustration: Aïda Amer/Axios. Photo: Mandel Ngan/AFP via Getty Images

President Biden will ask Congress Wednesday to spend $2 trillion on an infrastructure plan over eight years, and pay for it by increasing taxes on corporations for nearly twice as long.

Driving the news: The package, which he will unveil during a speech in Pittsburgh, seeks to fulfill a range of promises he made on the campaign trail to fix the country’s crumbling infrastructure, slow the growing climate crisis and reduce economic inequality.

Dan Primack, author of Pro Rata
Mar 31, 2021 - Economy & Business

Changes to capital gains taxes omitted from Biden's infrastructure plan

Illustration: Annelise Capossela/Axios

The carried interest loophole is beginning to look immortal.

Driving the news: President Biden today will unveil a $2 trillion infrastructure plan that the White House hopes to pay for via changes to the corporate tax code. But it will not include any changes to individual income taxes, including on capital gains.

Ben Geman, author of Generate
Mar 31, 2021 - Economy & Business

Biden's clean energy infrastructure plan draws interest of lobbyists

Illustration: Eniola Odetunde/Axios

President Biden's attempt to steer huge energy infrastructure plans through Congress and his wide-ranging executive agenda are together creating intense lobbying and advocacy efforts to shape the policies.

Why it matters: The new proposal for an energy infrastructure package is vastly larger than the roughly $90 billion for clean energy in the 2009 stimulus, and the constellation of interests in play is huge.