Biden unveils $2 tril. jobs plan

US President Joe Biden has unveiled plans to spend over 2 trillion dollars to create jobs through steps like boosting the nation's infrastructure. He says it is a "once-in-a-generation investment."

Biden announced the move in a speech in the eastern state of Pennsylvania on Wednesday.

The plan includes repairing aging roads and bridges, as well as setting up charging stations for electric vehicles at 500,000 sites by 2030.

It also supports efforts to develop artificial intelligence, and to strengthen supply chains for US microchip-makers and other manufacturers. That comes amid festering trade tensions with Beijing.

Biden says the plan is "the largest American jobs investment since World War Two."
He says it will create "millions of good-paying jobs," "grow the economy," and "put us in a position to win the global competition with China in the upcoming years."

Biden says his administration will raise the corporate tax rate to 28 percent from 21 percent to fund the plan.
The move follows a 1.9-trillion dollar coronavirus relief package enacted in March.