Watch President Joe Biden's full speech on his $2 trillion infrastructure plan

President Joe Biden unveiled a more than $2 trillion infrastructure package on Wednesday as his administration shifts its focus to bolstering the post-pandemic economy.

The plan Biden outlined Wednesday includes roughly $2 trillion in spending over eight years and would raise the corporate tax rate to 28% to fund it. Speaking at a union hall in Pittsburgh, the president called it a vision to create “the strongest, most resilient, innovative economy in the world” — and millions of “good-paying jobs” along the way.

The White House said the tax hike, combined with measures designed to stop offshoring of profits, would fund the infrastructure plan within 15 years.

The proposal would:

Put $621 billion into transportation infrastructure such as bridges, roads, public transit, ports, airports and electric vehicle development
Direct $400 billion to care for elderly and disabled Americans
Inject more than $300 billion into improving drinking-water infrastructure, expanding broadband access and upgrading electric grids
Put more than $300 billion into building and retrofitting affordable housing, along with constructing and upgrading schools
Invest $580 billion in American manufacturing, research and development and job training efforts

The announcement kicks off Biden’s second major initiative after passage of a $1.9 trillion coronavirus relief plan earlier this month. In the new move, the administration aims to approve a first proposal designed to create jobs, revamp U.S. infrastructure and fight climate change before it turns toward a second plan to improve education and expand paid leave and health-care coverage.

Biden said he will unveil the second part of his recovery package “in a few weeks.”

“These are investments we have to make,” Biden said of revamping U.S. infrastructure. “We can afford to make them. To put it another way — we can’t afford not to.”

While Democrats narrowly control both chambers of Congress, the party faces challenges in passing the infrastructure plan. The GOP broadly supports efforts to rebuild roads, bridges and airports and expand broadband access, but Republicans oppose tax hikes as part of the process.

Senate Minority Leader Mitch McConnell, R-Ky., said Wednesday he is “not likely” to support the proposal because of the tax increases. Biden called McConnell on Tuesday to brief him on the plan.

McConnell’s Democratic counterpart, Majority Leader Chuck Schumer of New York, touted the bill as a means to create jobs while promoting clean energy and transportation. In a statement Wednesday, he said, “I look forward to working with President Biden to pass a big, bold plan that will drive America forward for decades to come.”

The president responded to criticism of proposed tax hikes, saying he would not increase the burden on anyone making less than $400,000 per year. He said he did not aim to punish the wealthy.

“This is not to target those who’ve made it. Not to seek retribution,” he said. “This is about opening opportunities for everybody else.”

Among the administration’s goals, it aims to revamp 20,000 miles of roads and highways and repair 10,000 bridges. The proposal calls to build a national network of 500,000 electric vehicle chargers by 2030 and replace 50,000 diesel public transit vehicles.

The administration hopes to build or rehabilitate 500,000 homes for low- and middle-income Americans and replace all lead pipes in drinking-water systems. The plan also aims to deliver universal, affordable broadband service.

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[respy]

Don't forget he's the most popular president in US history.. womp womp

[ray]

Where’s the 80 million voters who support this guy?

[justme]

everyone who voted for this deserves whats coming, this is only 4 months into a 4 year deal....god bless america

[The-TEE]

We should probably enjoy the dislikes while the government allows it.

[keisreeman]

Could somebody give me the timestamp where he completes a coherent sentence?

[johncano]

Says he's a "union guy" after what he did to the key stone workers. Shameful

[mikesampson]

Anyone who voted for him should tell their children that their future is history and they destroyed America because they hated one man more than they loved their children.

[Iron_Wolf_]

CNBC, please help this country plunge as deep and as fast into debt as possible!

[Submersed]

I have never seen such a publicity stunt so big. They have to remove the dislike button because they are afraid about what people actually think.

[JustJim]

I wish I could get access to that teleprompter. I could enter, "I have dementia and shouldn't have run for president" and "I am just doing what Pelosi and Schumer are telling me to do". China Joe would just keep reading it until someone physically stopped him.

[toddgaak]

How much BS are they going to pack into this one?

[jodylancaster]

Every time he opens his mouth I cringe.

[prisonmike]

Dude you read from a teleprompter and you still can't speak straight does he even practice it before?

[tiefighter]

What speech? Dude is barely coherent.

[Jhayes]

“We will all do better when we all do well “ you think joe you are slow man just give it up man. C’mon man

[stevenjohnson]

So far-318 likes
1.1 thousand dislikes
And we’re supposed to believe that this man legitimately got more votes than any other presidential candidate in the history of the United States

[tamibaker]

I can't even listen to it! Makes me nauseous!

[Nunyabidness]

The democrats made the divisions in this country so much worse, economically, racially andon the world stage... and he did not give any tax breaks

[JohnDoe-nzbk]

We're screwed like a 12 year old around Joe.

[lunabey]

The ratio of dislikes to likes is so real that even youtube can't keep up 😂