Washington, D.C. Update: President Biden’s First Term Plans

Washington, D.C. Update: President Biden’s First Term Plans

While many of President Biden’s plans can be accomplished through executive orders, those requiring congressional approval will be met with slim Democratic majorities. Below are his current goals:

Climate & Energy

  • Ban new oil and gas permits on public land and water.
  • Rejoin the Paris Climate Accords.
  • End the Keystone XL Pipeline project.
  • Make the U.S. electricity system carbon-neutral by 2035 through carbon capture and solar and wind energy.
  • Make the U.S. economy reach net zero greenhouse gas emissions by 2050 through tougher fuel efficiency standards.

Education & Child/Elder Care

  • Forgive up to $10,000 in student loan debt per student.
  • Raise Social Security benefits for people over 78, with low income, and for widows and widowers.
  • Guarantee twelve weeks of paid family leave, equaling 2/3 of pay up to $4,000.
  • Make two years of community college tuition-free to all, and all public colleges and universities tuition-free to students whose families make below $125,000.

Guns

  • Create federal grants to encourage states to adopt “red flag” laws.
  • Require more FBI criminal background checks lasting up to ten days, exempting only private sales between close family members.
  • Reimpose the semiautomatic weapons ban and high-capacity magazines.

Health Care

  • Eliminate the earning cap on ACA tax credits subsidizing the purchase of healthcare insurance.
  • Lower the Medicare eligibility age from 65 to 60.
  • Create a public option.

Immigration

  • End the current travel ban from majority-Muslim countries.
  • Redirect funds for border wall construction to higher-tech border enforcement.
  • Raise the refugee admittance cap by 18,000 to 125,000.
  • Increase the current 140,000 annual cap on work visas.
  • Restore protections against deportations of 660,000 Dreamers.
  • Create a pathway to citizenship for the 11 million undocumented immigrants in the U.S.

Tariffs & Trade

  • Reevaluate tariffs on Chinese goods while working with allies to move China to change its economic practices.
  • Work with labor and environmental groups when engaging in trade negotiations.

Taxes

  • Return the top federal income tax rate to 39.6% for individuals making at least $400,000.
  • Raise the corporate income tax rate to 28% from 21%.
  • Impose a minimum 15% annual tax on profits U.S. companies report to investors.
  • Enact a payroll tax of 12.4% on wages above $400,000 to fund the Social Security system.
  • Tax capital gains as ordinary income.

Other Domestic Policies

  • Extend civil rights protections for LGBTQ Americans.
  • Extend the right to unionize to all federal and state government workers.
  • Increase the federal minimum wage to $15 by 2026.
  • Spend $50 billion in the first year on infrastructure.

Foreign Relations

  • Revoke exit from the World Health Organization.
  • Rejoin the Iran Nuclear Deal.

To read the full list of Day One Executive Actions, please click here.

To read the full list of proposed Agency Actions, please click here.

Becker’s Federal Lobbying Team will continue to monitor these developments as they evolve and will share with you as soon as information becomes available.