Over $5 trillion in federal expenditure on infrastructure, defense, education, housing, and health care is proposed in the US budget. The $6 trillion budget is an increase over the $4.8 trillion budget proposed for 2020. The plan’s proposed new tax rises and increased expenditures are expected to worsen the overall deficit even further. In order to get the bigger package adopted by Congress, Biden has indicated that he would be willing to backtrack on some of his objectives. Verizon Communications Inc. and Lockheed Martin Corporation are two companies that would gain. More than $750 billion has been set aside for defense expenditures by the Biden administration, the majority of which will be distributed to defense contractors. The government and Lockheed Martin Corporation have agreed to 169 F-135 aircraft deliveries and production rates for 2022. The company recently beat earnings projections and provided a more optimistic forecast.
Here is Insider Monkey’s list of the 10 best stocks that will benefit from Biden’s $6 trillion plan. Caterpillar Inc. is a construction equipment manufacturer and seller based in Illinois. On our list of the top ten equities that will benefit from Biden’s $6 trillion plan, it ranks tenth. Over the previous year, investors received a return of more than 80% on their investment in the company’s stock. The Boeing Company is a Chicago-based corporation with interests in defense, aviation, and communications. On the list of the top ten equities that will benefit from Biden’s $6 trillion plan, it is ranked ninth. Over the previous year, the stock has provided investors with returns of more than 16 percent. Tesla, Inc. is a California-based electric vehicle manufacturer and retailer. On the list of the top ten equities that will benefit from Biden’s $6 trillion plan, it ranks eighth. In the last few months, the stock has returned 238 percent to investors. On the ranking of the top ten equities that will gain from Biden’s $6 trillion plan, plug Power Inc. is ranked seventh. In the last year, the company’s stock has returned more than 526 percent to investors. By selling hydrogen as an alternative energy source, the company hopes to minimize reliance on fossil fuels. The Goldman Sachs Group, Inc. is a financial services firm based in New York. On the list of the top ten equities that will benefit from Biden’s $6 trillion plan, it ranks sixth. In the last year, the company’s stock has returned more than 79 percent to investors. For more details, click 10 Best Stocks that will Benefit from Biden’s $6 Trillion Plan.