On March 31, 2021, President Joe Biden unveiled a $2 trillion infrastructure and economic recovery plan (American Jobs Plan) to strengthen the post-pandemic economy. The American Jobs Plan focuses on increasing federal spending to fix highways, electric grids, broadband, schools and childcare facilities, manufacturing, and R&D investments, among other areas. As an offset for the American Jobs Plan, the White House also introduced the “Made in America Tax Plan” (Tax Plan), which aims to increase the corporate tax rate to 28% and proposes other significant international tax changes. The Tax Plan expects to raise over $2 trillion over the next 15 years and reduce the deficit permanently.

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