Biden FLIPS on $4 Trillion Dollar Stimulus / Infrastructure Deal

infrastructure plans have been delayed

let's talk about what the delay is and

some new information that we know

regarding the infrastructure plan and

the easiest way to do this

is by jumping over to our beautiful

flowchart and of course while we

transition i may as well take the

opportunity to say

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all right folks

here's the flow chart so what i've done

is i put little flags by what things are

different and the most important thing

to know about what's different

is that joe biden is delaying uh the way

we're going to be releasing

the infrastructure package so let's

remove some of the uh

the notes here and mention this we've

got the infrastructure package already

broken down into three parts part number

one is the climate part

then we've got the infrastructure part

and then we've got the social or human

infrastructure part

these are the three main core parts of

this infrastructure bill

the issue is biden has now announced

that he is going to

release his infrastructure plan on march

31st

that is wednesday however he's only

going to release

one part of it we're not a hundred

percent sure which party is going to

release

but it appears that he is going to

release the actual

physical infrastructure part now and

then later or in the about two weeks in

the future

he'll be releasing the social

infrastructure part

so in other words he is dividing or

delaying

his a full release of the infrastructure

plan

now this could be a negotiation strategy

because obviously republicans are very

keen on things like

actual infrastructure which might

include things like uh

roads bridges waterways rails charging

stations

uh money obviously for uh well

some of these aspects won't be super

republican friendly but

money for 5g infrastructure broadband

for rural access great

some of the things that are going to be

contentious for republicans in this

already

100 billion for low-income housing 200

billion for housing infrastructure

a lot of this being green infrastructure

a lot of the climate derivatives are are

going to be

a little bit uh causing chest

palpitations

for republicans like focusing on energy

efficient housing

1 million affordable housing units

we've got a new cash for clunkers

program that chuck schumer

is pitching basically providing cash for

people to

get rid of their their clunkers their

older less energy efficient vehicles

and then using that money towards buying

a new vehicle

hundreds of billions of dollars towards

high growth industries like advancing

battery and manufacturing a tech

so all of these things are going to be

very very important but again biden is

going to be delaying his complete

announcement of the bill he's going to

start with infrastructure

possibly he'll talk about the climate

portion as well though republicans don't

love that parl

and then in the future he'll circle back

somewhere around two to three weeks from

now maybe around the middle of april

that is when he'll actually announce the

social infrastructure part

which would include trying to make the

child a tax credit either

a permanent or extend it through 2025

expand on child care spending

school infrastructure 100 billion for

schools and education

universal pre-kindergarten free

community college more affordable care

act subsidies

more money for underserved communities

specifically black and brown communities

this is being called a racial justice

portion

of the bill including free or reduced

tuition at historically black colleges

and universities

um training uh millions of dollars for

training

or i should say billions of dollars for

training millions of people

in new tech jobs right these are or or

energy related jobs these are all

priorities

the big thing here though is delaying

the way this package

is going to get released so i'm guessing

will probably be something like march

31st this seems to be set

and then probably april 15th to april

20th for the second part

now here's the bummer about this when

biden announced the stimulus

package he verbally announced it but

there was no written plan

for like another month thereafter we had

the bill

verbally announced around like january

20th january 22nd somewhere around there

the bill wasn't actually written until

like

the end of february that's when the

house wrote it and vote on it

and then the senate had to get to it so

it took another six weeks thereafter

and so timing of this bill has also

changed

quite a bit uh in fact i would almost

argue a lot

the latest quotes that we have are

actually down here take a look at this

right now congressmen and women are

actually expecting that it's possible

that this bill

might get revealed by may fully revealed

by may

but the goal is to get this done by

quote fall

which could literally be august or

september congress is thinking of

getting this bill done by fall

so forget about this talk about maybe

it'll get just you know negotiated and

passed in april and may

forget about it it doesn't even look

like they're thinking about this summer

for getting this done

uh it looks like uh in august september

maybe more like september october

uh you know because they're saying by

fall so maybe it'll be in in the latter

part of the summer

but uh if look if congress is telling us

by fall

i wouldn't be surprised if it ends up

being a winter thing

so i think this is just going to be a

massive sort of project throughout this

year

and uh honestly getting excited about

the infrastructure plan at this point

might be a little bit premature

although we are going to be hearing

about it a lot and this is going to be a

big part of the debate

i just hope we're debating in our time

right now or taking up a lot of time on

tv

or media or papers or whatever we're

going to hear a lot about this as this

gets debated

i just hope this doesn't turn into

something where it's just like a hero's

package where we get all this hopium and

then it never happens right it's like an

1800 page bill that just ends up being a

waste of paper

anywho we know some of the other things

that we know are that

so far there's been no mention of

including student relief in here so

no student relief has been included in

this uh there have also been rumors

of republicans trying to convert joe

manchin to be a republican

i don't know why but i get like these

really eerie age of empires vibes from

that like you know the monk

okay sorry i totally had to geek out of

that uh we have no idea how the

parliamentarian is going to respond

to this package i mean the democrats

believe

they can slam dunk this through budget

reconciliation which only requires 50

votes plus kamala harris

but the parliamentarian last time knicks

some things remember they nixed the

minimum wage

uh they nixed some things like nancy

pelosi's railway

and uh which were money for chuck

schumer's bridge which

some of those are infrastructure related

so you kind of wonder like

is the parliamentarian going to nix a

bunch of stuff in this three to four

trillion dollar deal republicans are

also calling this potential race bait

or are suggesting that a democrats

should just drop

the affordable care act obamacare and

then they'll be on board with the rest

of the plan

there's talk that we shouldn't be

spending money on all the social

infrastructure that child poverty should

be dealt with

separately not part of an infrastructure

bill uh to call it social infrastructure

is really just a trojan horse as mitch

mcconnell says

uh democrats on the other hand say hey

this is our last big opportunity maybe

here

to hitch our wagon and our pet prior

projects and our priorities onto a

really massive package

with what almost feels like endless

spending now there are also other

concerns there are concerns that

republicans and even economists have

expressed that hey look what happens

if if you spend this four to you know

three to four trillion dollars

and all of a sudden that causes

inflation it causes interest rates to go

up

now it becomes more expensive for the

u.s government to service their debt

and we end up going into a crappy period

of time where

now interest rates are higher debt

payments are higher and the economy

actually slows

slow or grows slower rather than faster

which is the whole point

of this bill so then we also have

concerns over the tax

changes so you've got centrist democrats

not sure that we want to see as many of

the tax hikes that are included

we're even now hearing about potentially

new tax hikes like hikes and payroll

taxes

uh but uh you know and that's on top of

i should say excuse me

that's on top of hiking the corporate

tax rate from 21

to 28 potentially this will get

negotiated to 25 percent as a corporate

tax rate

a tax on wealthy investors that it seems

like like a wealth tax is not happening

here but certainly uh

raising the personal tax rate seems to

be a priority here

raising that almost one point or about

one point six percent here

uh possibly for anybody making more than

four hundred thousand dollars

but maybe at the same time extending tax

breaks to small businesses or other

businesses so

we'll have to wait and see but biden's

first big reveal is going to be on

wednesday and then following the first

big reveal on wednesday we'll have the

full apparently reveal

uh two to three weeks thereafter but

again this this plan's not even on the

radar for passage until

really the fall which when congress says

fall just think end of the year so

it's going to be a while before uh

there's another four trillion dollars of

printing which

given inflation fears right now and all

the drama we saw regarding the suez

canal and

hedge funds being a little shady again

maybe uh

maybe not such a such a horrible thing

for uh some inflation fears to subside a

little bit first

when we hit the brakes a little bit on

spending let those inflation fears

subside

and reevaluate to see how much inflation

there was actually from

stimulus packages which certainly many

of us are on the side that hey there has

to be inflation in there

equally many of us that say well there

doesn't necessarily have to be inflation

so we'll just see what happens

i'm just sort of for you know from a

neutral point of view uh

guessing that it would probably be

easier for biden to convince

congressmen and women uh to pass a

larger plan

when we've been able to solidify that

okay we didn't really see inflation from

the big stimulus packages

which you know six months from now

should be easier to see who knows

we'll see you know and if there's large

inflation then obviously maybe you hit

the brakes right

anyway we shall see but that is the

latest thank you so very much for

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[Music]

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