ALEXANDRIA, La. (KALB) —President Joe Biden will travel to Louisiana on Thursday to advocate for his new $ 4 trillion economic plan.
The president will make stops in Lake Charles and New Orleans to talk about the resumption of hurricanes and the COVID-19 pandemic, but the main point of the proposal is on the economy.
The proposal would invest $ 2.3 trillion in infrastructure, relieving the state’s $ 14 billion in infrastructure project backlogs.
District 27 State Representative Mike Johnson said, âOur roads and bridges are among the worst in the country and not only at the state level, but also at the parish and parish level. locals. There are parts of my neighborhood that have bigger potholes than cars.
The economic plan would invest $ 115 billion specifically to repair roads and bridges. Last month, President Biden‘s administration gave Louisiana a âDâ rating for infrastructure. The plan would also give money to repair water networks and provide reliable broadband to every resident.
The proposal also provides $ 1.8 trillion for tax cuts and education. Deborah Randolph, president of the Central Louisiana Regional Chamber of Commerce, said preschool education was underfunded in Louisiana.
âIn order to build a strong workforce for the future, we cannot afford to lose a single child because they didn’t get the early education they needed,â Randolph said.
Although the economic plan meets a number of needs, officials are concerned about its cost.
âWe are not promoting higher taxes, especially on businesses, industries and small businesses because of the negative impact this has on the growth of our economy,â Randolph said.
State Representative Johnson said it would put the country in additional debt that it would pay off for a long time.
âThis is more deficit spending than we have ever seen. I hope that the initial funding from the federal government will be used for infrastructure and that we try to be smart about how we spend the money. We must not go into deficit more than necessary, âJohnson said.
The president’s plan would be to raise the corporate tax rate by 7%, which the administration says would raise $ 2 trillion over the next 15 years.
Click here to report a typo.
Copyright 2021 KALB. All rights reserved.