President Joe Biden’s proposed $2 trillion American Jobs Plan could end up costing taxpayers more than $666,666 per job created.
The Washington Post gave Biden “two Pinocchios” for saying the American Jobs Plan, his infrastructure and jobs proposal, will create 19 million jobs. Both Biden and his Transportation Secretary Pete Buttigieg have made the 19 million jobs claim. The source of the statement is a Moody’s analysis, which CNN pointed out had estimated the U.S. economy would add about “16.3 million jobs over the same period if the infrastructure proposal does not get passed.”
President Joe Biden’s new spending plan amps up rhetoric on national competition with China, maintaining the confrontational approach established by the previous administration. But whereas the 45th president championed what he called American energy dominance as a key element of grand strategy, the 46th seems bent on eschewing America’s natural resource advantages and playing to China’s strengths.
The White House fact sheet on the American Jobs Plan refers to China five times directly, claiming that the plan will “position the United States to out-compete China,” that China’s ambitions are one of “the great challenges of our time,” that the U.S. is “falling behind countries like China” on infrastructure, that “countries like China are investing aggressively in R&D,” and that the U.S. market share of plug-in electric vehicle (EV) sales is one-third of that in China — something President Biden “believes that must change.”
The president asserts that this plan will simultaneously reduce the risks posed by climate change and by China’s rise, but the evidence suggests his approach to energy will undermine the United States’ strategic positioning, not reinforce it.
There is a deep irony in President Joe Biden’s decision to start looking for support for his American Job Killing Tax Plan in Pittsburgh, Penn.
And make no mistake: Biden’s so-called American Jobs Plan is a tax increase bill masquerading as an infrastructure bill – which is in turn masquerading as a jobs bill. It will not create jobs or ultimately improve our infrastructure. It will kill jobs and make infrastructure projects more expensive in time and money.