Retired Americans have a lot to gain from President Biden and are now excited about his infrastructure plan, which includes funding for services vital to their wellbeing.
On the frontlines of securing a better future for American retirees is Rich Fiesta, Executive Director of the Alliance for Retired Americans. He joined AWF Union Podcast to explain how the potential infrastructure plan will aid retired Americans and more.
Caring for America’s Retirees
Fiesta said the plan is great for all Americans, as it improves daily life and also provides a pathway to a sustainable future. Since the plan does more than provide funding for traditional infrastructure, Fiesta believes it is a good plan.
He said the plan earmarks money for caregiving. Later in life, most Americans will need some sort of extensive caregiving. However, this issue is often overlooked, as there is currently little funding being provided and problems within the industry.
President Biden’s infrastructure plan will help more elderly Americans gain access to highly trained and highly skilled at-home caregivers. Additionally, these workers will be fairly compensated, something that has not happened in the past.
How do we pay for it?
One of the complaints regarding an infrastructure bill is the cost. While the cost seems high, many believe the jobs created and increased economic activity will help pay for the bill. However, Fiesta said an increased IRS budget could help alleviate the issue by providing them the resources to collect uncollected tax revenue.
Another way of paying for the proposed plan is to close the loopholes that allow the wealthiest Americans and corporations to avoid paying their fair share of taxes.