Biden's first 100 days: the biggest moves affecting the economy and the markets

100 days later... (in SpongeBob voice). This Thursday marks President Biden's 100th day in office. We’ve seen big changes since Inauguration Day — so we're zooming out on Biden's first 100 days through the lens of the economy and business:

1. The Big Stimulus: Biden campaigned on it, but we didn't expect how massive it would be. The $1.9T package was more than twice as big as the 2009 recession package. $1.4K checks fueled a rebound in "revenge spending," and boosted economic growth expectations.

2. The Vax Rollout: Biden pledged an achievable target of 100M shots in his first 100 days. 230M shots have already hit American arms. Biden expanded eligibility to all adults, speeding up biz reopenings — and boosting spending on travel and restaurants. Now, the US is providing vax supplies to India, where Covid is surging.

3. Infrastructure Makeover: Biden unveiled a $2.3T proposal to give America's infrastructure a major facelift. It would be the biggest federal program since the '60s Space Race, and could boost construction-related companies.

4. Serious Tax Hikes: Biden's infrastructure plan requires bumping the corporate tax rate to 28% from 21%. He also wants to raise income taxes on the wealthy, and reportedly, nearly double taxes on investment gains to ~40% (for people earning $1M+). Stocks and Bitcoin plunged on the reports.

5. Green Push: Pre-election, Biden pledged $2T to clean energy. His infrastructure plan includes EV rebates and 500K electric vehicle chargers. He also unveiled a new target to slash US emissions by 2030. That could boost EV makers and clean energy companies.