There has been a lot of speculation around the proposed US infrastructure development plan by the Biden administration over the past few months. However, on Tuesday, the Democrat-controlled Senate passed the $1 trillion bill, boosting sentiment in the US economy.
The bill forms part of the Biden administration’s key priorities aimed at climate change, universal pre-schooling, and affordable housing for all, but is also deeply rooted in the notion of “taxing the wealthy”, which has been championed by the Democrats.