President Biden of the United States has signed an infrastructure investment bill totaling 110 trillion yen to improve roads and bridges, and one of the government's flagship policies for aggressive fiscal policy has finally been passed.
The infrastructure investment bill, which was launched by the Byden administration and will invest a total of 1 trillion dollars and 110 trillion yen in Japanese yen, is a bipartisan bill that incorporates the opinions of opposition parties and Republicans, and was passed by the House of Representatives on the 5th of this month.
In response, President Biden signed the bill on the 15th and the law was passed.
This includes the development of dilapidated roads and bridges, the strengthening of communication and power grids, and the expansion of charging equipment for electric vehicles. ..
With President Biden's approval rating dropping to the lowest level since his inauguration, more than seven months after the initial proposal, one of the government's flagship policies for aggressive fiscal policy has finally come into effect.
However, regarding financial resources, the increase in the corporate tax rate that was initially expected was not included, so the Parliamentary Budget Bureau has indicated that the plan based on this law will increase the budget deficit by 29 trillion yen in 10 years. I am.
From now on, the focus will be on parliamentary deliberation of a 200 trillion yen expenditure bill that includes childcare support and climate change measures, but the Democratic Party's middle-ranking members who emphasize fiscal discipline are reluctant to do so. The challenge is to be able to agree.
63% support infrastructure investment bill despite sluggish approval rating
According to the latest poll released by American ABC TV and The Washington Post on the 14th, 41% of the respondents said they "supported" the administration of President Biden, and 53% did not "support" Afghanistan. Since the beginning of September, when the turmoil spread due to the withdrawal of the military from Afghanistan, "support" has dropped by another 3 points, the lowest level since taking office.
Inflation seems to be a major cause of the decline in approval ratings, with 70% of people feeling that the economic situation is "bad", which is 12 points worse than it was in April.
On the other hand, 63% support the 110 trillion yen infrastructure investment bill signed by President Biden on the 15th, and the Biden administration and the ruling and democratic parties are aiming to enact childcare support and climate. 58% also support a 200 trillion yen expenditure bill that includes measures against fluctuations.