Biden Administration to Prepare Infrastructure Package Up to $3 Trillion

The Biden administration's economic advisers are preparing an economic package that could cost up to $4 trillion, according to a New York Times report. The package, which President Joe Biden promised in his presidential campaign, aims to boost the economy, reduce economic inequality, enact climate change initiatives and provide free community college, universal preschool and a national paid leave program. The package would also include a sweeping infrastructure plan that would likely be financed by tax increases on businesses and wealthy individuals. Biden’s advisers are expected to present the proposal to the president and congressional leaders this week. Some reported that a $3 trillion effort was expected to be broken into two parts: one focused on infrastructure, and the other devoted to other domestic priorities such as schools. White House press secretary Jen Psaki tweeted Monday that Biden would not unveil a proposal this week, but that Biden "is considering a range of options" and added that "speculation is premature." Coverage from left-rated outlets tended to focus on the areas the package would address, specifically highlighting climate change and renewable energy initiatives. Coverage from the right framed the items addressed in the package as "Democratic priorities" and tended to raise concerns about the growing amount of national debt the bill would incur.