A $2 trillion stimulus package is just a start, says the White House.
The administration has proposed a $1.5 trillion package that includes money for infrastructure projects, a $300 billion increase in the federal unemployment benefit and $50 billion in unemployment benefits for veterans.
The stimulus package includes an additional $1 trillion in new revenue.
It also includes $1 billion in additional funding for public transit projects.
It’s also part of a $715 billion package that the president announced Thursday.
The president’s plan is based on his administration’s own projections that economic growth in the coming year will be a record-high 3.4% for the third year in a row, up from 3.1% in 2016.
The Obama administration says the package will be enough to lift nearly all Americans out of poverty, with about one in four Americans living in poverty.
However, there are significant concerns about the stimulus package, particularly the fact that it’s only half-way through its administration.
The White House is proposing a $700 billion stimulus package for infrastructure, which will include $300 million for a federal program that helps small businesses create and expand jobs.
This includes $300.2 billion for a Federal Transit Administration program that pays for projects such as light rail systems, tunnels, buses, parking lots, and other infrastructure projects.
The government also is proposing $2 billion in federal assistance to help companies expand their operations in the United States, including $100 million for small businesses to build and maintain their own manufacturing facilities.
However the administration is calling the $300bn for infrastructure the “crowd funding” portion of the stimulus.
The $1,000 minimum wage would be doubled, to $15.50 per hour, with the federal government providing $1 million in tax credits to businesses that have more than 20 employees.
Additionally, $200 million would be allocated for a small business loan program that would provide a loan of up to $500,000 for companies with up to 20 employees to invest in equipment, equipment to hire more workers, or to expand their workforce.
The money would also go toward a loan program to companies that have less than 100 employees.
The proposed stimulus package also would provide up to a $5 billion loan program for companies that invest in the creation of new manufacturing facilities in the U.S., including a $500 million loan program with a $100,000 match.
The proposal also includes additional funds for transportation projects, including the $500 billion transportation infrastructure program that includes the National Infrastructure Reinvestment Act.
The President also has proposed $1bn for public housing, including a federal housing subsidy that would be $1 per month per household.
The House Appropriations Committee has scheduled a hearing on the president’s stimulus package on Wednesday, where the administration will have to show that the package provides more than half the $1billion needed for infrastructure investments and that there is no additional increase in tax rates for the wealthy.
If the administration fails to show there is a surplus, the House will need to pass a bill that would fund the government for the rest of this year, a process that could take months.