“Mr. Biden’s proposals will go through the Congressional machine, and actual investments proposed may be very different“– Paul Ebeling
His remarks will be closely watched by companies, investors, local governments and voters as an indication of where billions of federal dollars may flow in the yrs to come.
Mr. Biden (D) took office 10 wks ago, will outline the 1st part of some $3 to 4-T in spending proposals expected over the next 10 yrs devoted to fixing the country’s crumbling roads, transport, sewage systems and other essential links.
A 2nd proposal down the road will focus “squarely on creating economic security for the middle class through investments in childcare, healthcare, education and other areas,” White House press secretary Jen Psaki said Monday.
Mr. Biden says he will seek to roll back some of the business favorable Trump tax cuts of Y 2017, putting corporate tax rates back to 28%, and increase taxes on the wealthiest families, those making more than $400,000. Those notions will trigger tough fights in Congress.
The proposals will likely include new government bonds or other federal revenue, or some private investment.
Ms. Psaki said this Mr. Biden will explain how he plans to pay for every dollar of the plan.
Surface transportation, water systems, and schools are the most in need of help. So, stay tuned…
Tuesday, the benchmark US stock market indexes finished at: DJIA -104.41 to 33066.96, NAS Comp -14.25 to 13045.42, S&P 500 -12.54 to 3958.55
Volume: Trade on the NYSE came in at 883-M/shares exchanged.
Note: The Conference Board’s Consumer Confidence Index jumped to 109.7 in March from 90.4 in February.
- The Key takeaway from the report is that the series reached its highest mark in a yr on improved expectations for a strong recovery.
HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish with a Very Bullish bias in here,
- Russell 2000 +11.2% YTD
- DJIA +8.0% YTD
- S&P 500 +5.4% YTD
- NAS Comp +1.2% YTD
Looking Ahead: Investors will receive the ADP Employment Change Report for March, the Chicago PMI for March, Pending Home Sales for February, and the weekly MBA Mortgage Applications Index Wednesday.
Have a healthy day, Keep the Faith!