On Thursday, March 25, the 46th President of the United States, Joe Biden, who was sworn in on January 20, held his first official press conference since taking office. About 62 minutes, a total of 10 questions were answered, focusing on border immigration, the withdrawal of Afghan troops, especially infrastructure issues.

Biden said that driven by a new round of $1.9 trillion anti-epidemic stimulus, the US economy is expected to grow by 6% by the end of this year, the United States needs to invest in science and technology, computing and medical research, and according to CCTV news, he is seeking to run for re-election in 2024.

The next major issue for his federal government is rebuilding infrastructure, and the BBB (Build Back Better) plan will be announced during the next trip to Pittsburgh. However, he did not mention the extent of the change in tax policy in the next major legislative push.

Biden said infrastructure will boost US productivity and provide good jobs; roads on the US highway 1max 5 are in bad condition, 20 per cent of flights are not on time, and water pipes for 6 million to 10 million US households are still lead pipes.

Some analysts pointed out that infrastructure is an issue that the two parties in Congress can reach a consensus, so Biden took a long time to express it. The White House said Wednesday that Biden is expected to announce trillions of dollars of infrastructure plans in Pittsburgh on March 31, and details of the plan are still being worked out.

According to CCTV News, Biden said that despite fierce competition between the United States and China, the two sides should not seek confrontation, but should achieve fair trade in order to compete effectively.

Biden stressed that China has invested heavily in science and technology and infrastructure construction. The United States ranks only 13th in infrastructure construction in the world, while China invests three times as much in infrastructure construction as the United States. Rebuilding infrastructure will be one of his main tasks.

At the same time, as expected, Biden also announced the goal of a new upgraded version of COVID-19: 200m doses of vaccination in the United States within his first 100 days in office.

According to CCTV news, Biden quoted the latest report from the Ministry of Education as saying that nearly 50% of KMY 8 schools (kindergarten to junior high school) have been fully opened, and he expects to achieve the full opening of KMY 8 schools in the United States within the next 35 days.

Last Friday, the 59th day of Biden's inauguration, the media said he had achieved his target of 100 million doses of COVID-19 vaccine in the United States more than a month ahead of schedule. On December 8, Biden said he would complete 100 million doses of the vaccine within 100 days of taking office.

The rate of vaccination in the United States has risen rapidly in the "post-Trump era", reaching an average of about 2.5 million doses a day last week. The US Department of Defense also approved last week the deployment of more than 1,000 active military personnel to help deliver COVID-19 vaccine across the United States to speed up the pace of vaccination.

Some analysts say that if the current vaccination rate is maintained, 200 million doses will be reached in about five weeks, around April 23, a week ahead of the 100-day celebration of Biden's inauguration.

Biden said the most urgent issues needed to be addressed were the COVID-19 epidemic and the "economic chaos that has caused millions in the United States". Since then, the US government is prepared to solve more "long-term problems", including immigration and gun ownership reform, "one issue at a time."

Analysts say Biden's current task is to shape the $1.9 trillion fiscal stimulus into an economic boost plan, and although the number of first-time jobless claims has fallen to its lowest level in a year, the data show that nearly 19 million Americans are receiving some form of unemployment benefits.

Although the tax reform plan, which is of general concern to the market, was not mentioned today, it was reported yesterday that the Biden administration and Democrats planned to raise taxes to raise funds for the sake of the "big infrastructure" plan, including corporate tax and rich tax.

After signing a $1.9 trillion new round of anti-epidemic stimulus measures in early March, the US government turned its attention to infrastructure and economic recovery, hoping to improve transport, combat climate change and income inequality, expand paid leave and strengthen early childcare.

The White House not only plans to divide the $3 trillion stimulus into infrastructure and education, but also proposes a "two-step" tax increase and a corporate tax increase as part of the infrastructure bill. Tax increases for high-income families are included in the second set of education and anti-poverty measures.

People familiar with the matter further said that the preliminary tax reform plan includes an increase in corporate tax to 28% from the current 21%, as well as higher personal income tax and investment income tax, and the White House may also plan to increase taxes on overseas earnings of major companies. Among them, the Biden administration proposed to raise the top personal income tax rate to 39.6%, returning to the level before Republicans passed the 2017 tax reform.