As Joe Biden takes over as America’s 46th president, the question of what this means for the economy remains.
By: Shadai Scoburgh
Video By: Arundhati Kaul
Democratic presidential candidate Joe Biden has put forth several proposals that would change the tax code for mainly wealthy Americans.
“I do think that Joe Biden is doing the right thing by raising taxes for the top one percentile of earners in the United States, it’s fair that financially successful Americans carry a load to help the economy,” said American Citizen and Ryerson Student, Emmy Rayman
Biden has pledged not to raise taxes on those earning less than $400,000 a year which is more than 90% of taxpayers.
The New Free Trade Plan for North America
Now that Biden is elected Canadians could feel the impact in areas like energy, trade and defence. Free Trade has always been a point of conversation between Canada and the United States, for the ultimate North American agreement.
“Biden’s decision to bring a lot of critical supply chains back into the U.S. means that Canadian manufacturers would not be importing as many goods into the US anymore, this is crucial considering the U.S. is one of our biggest customers in the market,” said Valentine Rozario, second-year Ryerson student.
Ultimately, Biden’s new plans for trade involve bringing back the critical supply chains so that America is not dependent on other nations during a time of crisis.
Also, Biden promises to tighten domestic content rules, which may have implications for some closely-linked Canadian manufacturing sectors.
Political Relations Between the United States and Canada
Multimedia Timeline by Sacha Alexandre Kingston-Wayne
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