Pelosi: Biden's $2T American Jobs Plan ushers in 'reconstruction' period for U.S.

"More to come in the next package but right now, what the president is doing is creating communities of opportunity," Pelosi says

House Speaker Nancy Pelosi said Thursday that President Biden's $2 trillion American Jobs Plan represents a "renewal of reconstruction" period for the U.S.

The Reconstruction-era in U.S. history refers to the period after the Civil War and abolition of slavery.

"The joy of the season is marked by another renewal, renewal of reconstruction that President Biden put forth yesterday in his presentation. He promised when he took the oath of office that we would build back better," Pelosi said during a news conference.

"Again, more to come in the next package but right now, what the President is doing is creating communities of opportunity, giving communities of color and rural communities, giving more opportunity there," she added, referring to Biden's forthcoming American Family Plan.

Pelosi said she expects the formal legislative language reflecting Biden's American Jobs Plan to be drafted at some point in May.

"We look forward to writing a bill, maybe much of it in the first week of May for the infrastructure piece of it and we'll see when the Senate then will act upon those proposals and then we go either to conference or just amending each other's product," she said. 

Wrapping up the news conference, Pelosi told reporters that "whatever you observe or don't, have the joy of springtime, enliven your spirits, it's a good time of renewal and a time of reconstruction."

The White House released a fact sheet on Wednesday that summarizes key parts of Biden's jobs and infrastructure plan. Biden has proposed raising the corporate tax rate to 28% from 21% and increasing the top income tax rate for individuals and families to fund the jobs plan.