Business & Investment

Biden’s infrastructure plan includes $ 115 billion for highways and bridges

President Joseph Biden today announced a $ 2 trillion eight-year infrastructure plan to repair and modernize the country’s 20,000 Leagues Under the Highways and replace 10. Repair the “most economically important” large bridges and 10,000 small bridges in poor condition.

Overall, Biden’s American Jobs Plan calls for a total of $ 621 billion in transportation issues. This includes:

  • $ 115 billion for highway, road, road repair and modernization, bridge repair
  • $ 85 billion for mass transit
  • $ 80 billion for repair and improvement of passenger car services
  • $ 25 billion at the airport
  • $ 17 billion in ports and inland waterways

Biden’s plans announced this afternoon at a carpenter’s union training facility near Pittsburgh, Collier, Pennsylvania, include $ 174 billion to encourage and support the purchase and use of electric vehicles. These include incentives and tax deductions for individuals to buy American-made electric cars, money to help build 500,000 charging stations nationwide, and electric-powered diesel-powered transit and school buses. Includes replacing with.

In his speech, Biden realized that it would be difficult to achieve his plan through Congress, but revealed that he believed it had to be achieved.

“Historically, infrastructure has always been a bipartisan issue,” he said, how Republican Abraham Lincoln led the construction of the country’s railroads, and Republican Dwight Eisenhower on the interstate highway. I quoted how the system was created. “There is no reason not to be bipartisan again.”

“We have to accomplish this. We can do this. We do this,” he added.

Biden pays Franklin Roosevelt’s New Deal and Lyndon Johnson’s great society-like plans by raising the corporate tax rate from 21% to 28% and increasing taxes on the wealthiest Americans. I’m expecting. Biden said 91 of the Fortune 500 companies in the United States “do not pay a penny of federal income tax. That’s a mistake.”

He said returning the corporate tax rate to 28% would generate $ 1 trillion in 15 years.

Biden’s plans also include:

  • He said $ 111 billion to improve water systems, including the replacement of lead pipes, poses a threat to millions of school children and others.
  • $ 100 billion to improve the country’s transmission system and start the transition to clean energy
  • $ 100 billion for schools, community colleges and daycare
  • $ 100 billion for digital infrastructure, including 100% national coverage with high-speed broadband access

But, as the name implies, the American Jobs Plan spends more on anything other than the ones that most consider traditional infrastructure. The plan demands spending:

  • $ 400 billion in home health services, including improved worker wages
  • $ 300 billion to manufacture
  • $ 213 billion to build and improve 2 million homes and apartments
  • $ 180 billion in R & D on key technologies and climate change
  • $ 100 billion for workforce development
  • $ 18 billion in veterans’ hospitals and government buildings

The White House fact sheet on Biden’s plan said, “This is the moment to rethink and rebuild a new economy. The American Jobs Plan will create millions of good jobs, rebuild our infrastructure and bring the United States to life. Positioning investment in the United States. Public domestic investment as an economic share has declined by more than 40% since the 1960s. The American Jobs Plan has not invested in the United States since it built and won the interstate highway. Invest in. Space development competition. “

In his speech, Biden called his plan a “generational opportunity” and would create millions of well-paid jobs.

Biden’s plans will face a difficult battle in Congress as Republicans oppose tax increases of all kinds.

Biden’s infrastructure plan includes $ 115 billion for highways and bridges Biden’s infrastructure plan includes $ 115 billion for highways and bridges

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