WASHINGTON—President Joe Biden is calling on Congress to approve more than $4 trillion in infrastructure and social welfare packages as part of his “Build Back Better” agenda. While his ambitious plans aim to spur economic and jobs growth, analysts predict the proposed spending and tax increases would shrink the U.S. economy in the long term. On March 31, Biden announced the American Jobs Plan, his $2.3 trillion infrastructure proposal that dedicates the majority of spending on progressive priorities such as climate change. He described his proposal as “the largest American jobs investment since World War II” in a speech in Pittsburgh on the day of the announcement. His spending plan, which includes significant tax increases on corporations, is unlikely to gain bipartisan support on Capitol Hill. Republicans earlier labeled the infrastructure plan a “Trojan horse” for progressive priorities and deficit spending rather than addressing systemic issues with roads and bridges. The University of Pennsylvania’s Penn …