Its core intent is to rebuild the country's infrastructure which has declined over the years and create jobs in the process.
It's being called an "infrastructure" bill, but in reality infrastructure (roads, bridges, airports, etc) are less than 10% of the spending. It includes things like raising taxes on businesses and the middle class; it includes paying for free child care and elder care; it includes requiring banks to report ANY monetary transaction over $600. (Currently this is set for $10,000 CASH transactions.)
It is said in reality it will cost taxpayers over $10 TRILLION, which will likely jump-start the high inflation we are already seeing. Most here are likely too old to recall the Jimmy Carter years in the White House. Inflation was over 14%. Mortgage interest was as high as 18%. This Biden Boondoggle will bring the same kind of results.