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Biden Proposes Financing over Two Million Houses with Infrastructure Plan

Biden propone financiar más de 2 millones de viviendas con el plan de infraestructura

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President Joe Biden proposed on Wednesday a plan that will produce, preserve and modernize more than 2 million units of affordable housing and create “good-paying” jobs, provided Congress approves the democrat infrastructure plan.

The White House announced in a statement this proposal that would be included in the Infrastructure Plan – which the Government is negotiating with the Republicans – and which intends to combine 213 billion in direct financing and more than 100 billion in tax credits to modernize homes.

This part of the democrat infrastructure plan, according to the president’s office, includes more than 500,000 new and rehabilitated homes for low- and moderate-income homebuyers and homeowners.

“These investments would create and sustain hundreds of thousands of good-paying jobs” assured the White House, who also took the opportunity to stress that most of these jobs would not require a college degree and could be unionized.

The President’s office made public its housing plan in the midst of negotiations on the infrastructure program between Democrats and Republicans, which is still far from an agreement.

Republicans continue to consider the Democratic plan excessive and criticize that it includes issues not strictly related to infrastructure.

They propose a smaller investment of $568 billion, focused on what they consider traditional infrastructure such as bridges, roads or airports.

For Biden and the Democrats, however, the Republican proposal falls short of the country’s needs, and they insist on including investments to adapt the economic fabric to the challenges of the climate crisis, such as tax breaks for electric vehicles and worker training.

On the other hand, Republicans criticize that Biden’s plan would be financed by a tax increase in the midst of the recession caused by the pandemic, as they believe it could further deteriorate the economy.

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