Joe Biden is set to consider a plan from his top advisers to plough roughly $3tn in additional government spending into the US economy for investments in infrastructure, clean energy and education, two people familiar with the matter said on Monday.
The additional fiscal support for the US recovery would closely track Biden’s 2020 presidential election pledges to tackle some of the major structural deficiencies afflicting the US economy. It is expected to be partially offset by increases in taxes on wealthy households and US corporations.
It would represent the second stage of Biden’s ambitious economic agenda, after Congress approved a $1.9tn stimulus plan to deliver immediate relief to households during the pandemic.
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