US mulls $4 trillion jobs, infrastructure spending plan: Report

Raising taxes on companies and the wealthy will be central to funding the package, sources tell Reuters.

United States President Joe Biden will be briefed by advisers this week on infrastructure, climate and jobs proposals being considered by the White House that could collectively cost as much as $4 trillion, the Reuters news agency reported, citing people familiar with the discussions. Biden’s advisers are weighing a price tag of between $3 trillion and $4 trillion for new legislative action, including repairing the country’s crumbling infrastructure and tackling climate change, one source said. A second source said Biden advisers have a package of proposals totalling up to $3 trillion for infrastructure and other priorities they are discussing with the president this week.