The Biden administration recently introduced a $2.3 trillion spending plan to upgrade the nation's infrastructure over the course of the next decade. As you might expect, there is a lot of ground covered in a spending proposal this big -- just over 10% of the $22 trillion GDP the U.S. is expected to report in 2021. Among the target industries that would get a cash influx under the yet-to-be-approved plan, some $280 billion is earmarked for highways, bridges, public transit, freight and rail; $100 billion is for eclectic grid upgrades; $213 billion is for affordable housing and existing housing upgrades; and $300 billion is for manufacturing and small business.
There are a lot of companies that could benefit from this epic influx of cash, but software is one of the most profitable players in any construction or manufacturing project. Thus I think Autodesk (NASDAQ: ADSK) , Ansys (NASDAQ: ANSS) , and PTC (NASDAQ: PTC) are three top stock buys if you are looking to capitalize on an American infrastructure spending boom.
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For further details see:
3 Software Stocks to Buy for the Coming Infrastructure Spending Boom