The significance of Joe Biden’s $2 trillion infrastructure plan

The huge infrastructure plan follows the massive $1.9 trillion stimulus package. What do these tell us about the administration’s economic and political objectives, asks Ben Chu

Joe Biden promotes his infrastructure plan in Pittsburgh (Reuters)

Joe Biden’s plan for $2 trillion (£1.44 trillion) of additional US state infrastructure spending, coming only weeks after forcing his $1.9 trillion stimulus package through the US Congress, seems, on the face of it, to vindicate fears that his administration is running a serious risk of overheating the world’s largest economy.

It will certainly fortify the impression that something fundamental has changed in the role of the state in the US economy with Mr Biden’s arrival in the White House.

But is the Biden economic agenda actually as potentially hazardous and indeed revolutionary as those impressions suggest? What’s the real significance of this legislative rush?