$2.2 Trillion Jobs and Infrastructure Plan Unveiled

April 1, 2021 by Tom Ramstack
President Joe Biden speaks before signing the PPP Extension Act of 2021, in the Oval Office of the White House, Tuesday, March 30, 2021, in Washington. (AP Photo/Evan Vucci)

President Joe Biden unveiled his plan Wednesday for a $2.2 trillion government investment into improving the nation’s infrastructure.

Biden described the plan as an effort to create jobs and make the United States more competitive while recovering from the economic devastation of the COVID-19 pandemic.

“Now it’s time to rebuild,” Biden said during a speech in Pittsburgh, Pa.

He cast the “American Jobs Plan” in historic terms, comparing it to Abraham Lincoln’s effort to build the first transcontinental railroad and Dwight Eisenhower’s program to construct a nationwide interstate highway system.

“If we act now, in 15 years people are going to look back and say, this is the moment when America won the future,” Biden said.

Paying for the plan already is raising objections from Republicans, particularly over Biden’s proposal for raising the average corporate tax rate from 21% to 28%. The president said the higher tax would generate $1 trillion over the next 15 years.

Regardless of claimed tax deductions, no large corporation would pay less than 21% in income taxes under Biden’s plan.

Republicans say a higher corporate tax rate would depress economic growth.

Senate Minority Leader Mitch McConnell, R-Ky., said Wednesday he was “not likely” to support the plan because of the tax increases.

“It’s like a Trojan horse,” McConnell said during a press briefing. “It’s called infrastructure, but inside the Trojan horse it’s going to be more borrowed money, and massive tax increases on all the productive parts of our economy.”

Democrats, such as Senate Majority Leader Chuck Schumer of New York and House Speaker Nancy Pelosi of California, signaled strong support for the American Jobs Plan Wednesday.

“I look forward to working with President Biden to pass a big, bold plan that will drive America forward for decades to come.” Schumer said in a statement.

Biden said the plan would even out divisions between rich and poor people, which he said deepened during the pandemic’s layoffs.

Major portions of the plan would:

  • Allocate $621 billion for transportation projects, such as bridges, roads, railroads, ports, airports and electric vehicle development;
  • Invest $580 billion to support manufacturing, research and development and job training to serve the industries;
  • Put $400 billion into caring for the elderly and disabled;
  • Spend more than $300 billion to improve water systems by replacing lead pipes, upgrading electric grids and expanding broadband, particularly in rural areas;
  • Provide more than $300 billion to build or retrofit affordable housing and schools.

A significant part of the transportation funding would be spent on incentives to switch motorists to electric vehicles. 

Automobile owners would receive tax deductions for electric vehicle purchases. Government contractors would be paid to install a half-million electric charging stations.

Electric vehicles and high-speed passenger trains also fit with Biden’s ideas for more renewable and clean energy to combat climate change. 

“We need to address one of the biggest threats of our time,” Biden said about global warming.

While discussing how taxes on corporations and the wealthy would pay for the plan, he added that low-income and middle-income Americans would not be affected.

“No one making under $400,000 will see their taxes go up, period,” Biden said.

He added, “It’s time to rebuild our economy from the bottom up and the middle out.”

Reposnding to Biden’s proposal, Sarah Greenberger, senior vice president of conservation policy at the National Audubon Society, said in a statement, “We have before us a once-in-a-generation opportunity to re-imagine our nation’s infrastructure to meet our economic, public health, and environmental challenges. 

“As we rebuild from the pandemic and record-breaking extreme weather events, we must use both human innovation and naturally-existing landscapes in harmony to protect the places that both people and wildlife need to survive,” she said. “Incorporating natural infrastructure like wetlands, beaches, and barrier islands into engineered systems; investing in habitat restoration and clean energy; and mitigating climate risks to communities that have historically shouldered the burden of climate change will create jobs and result in a brighter, cleaner future for us all.”

Sheldon Kimber, CEO of Intersect Power, which specializes in utility-scale renewable energy projects, said Bidn’s remarks in Pittsburgh “demonstrated an understanding of what it’s going to take to grow the clean energy economy. 

“The proposed extension and phase down of an expanded direct-pay tax credit has broad support across industry and would immediately greenlight billions in privately financed, job-creating projects,” Kimber said. “I am also pleased to see the inclusion of investments in the development of green hydrogen. 

“Electrification needs to be much more than driving a Tesla, and we see the opportunity for the deployment of green hydrogen as key to linking the electric sector to the deep decarbonization of our entire economy. 

Without question, infrastructure is the most important part of combating the climate crisis and the Biden Administration is getting it right. It’s time to stop putting off until tomorrow, what must be done today,” Kimber concluded.

White House

COVID KO's  Correspondents' Dinner
Media
COVID KO's Correspondents' Dinner
April 14, 2021
by Dan McCue

WASHINGTON - Citing ongoing concerns over the lingering coronavirus pandemic, the White House Correspondents' Association has decided to cancel its annual dinner this year. "We have worked through any number of scenarios over the last several months, but to put it plainly: while improving rapidly, the... Read More

Biden Aims for Bipartisanship But Applies Sly Pressure
White House
Biden Aims for Bipartisanship But Applies Sly Pressure

WASHINGTON (AP) — President Joe Biden has begun publicly courting Republicans to back his sweeping infrastructure plan, but his reach across the aisle is intended just as much to keep Democrats in line as it is a first step in an uphill climb to any bipartisan... Read More

Biden Wants Infrastructure Deal, But GOP Doubts Persist
Congress
Biden Wants Infrastructure Deal, But GOP Doubts Persist

WASHINGTON (AP) — President Joe Biden wants Congress to know he's sincere about cutting a deal on infrastructure, but Republican lawmakers have deep-seated doubts about the scope of his proposed package, its tax hikes and Biden's premise that this is an inflection point for the U.S.... Read More

White House Issuing Reports on States' Infrastructure Needs
Infrastructure
White House Issuing Reports on States' Infrastructure Needs

WASHINGTON (AP) — The Biden White House is amplifying the push for its $2.3 trillion infrastructure package with the release of state-by-state breakdowns that show the dire shape of roads, bridges, the power grid and housing affordability.The figures in the state summaries, obtained by The Associated... Read More

Biden Unveils $1.52 Trillion Budget Proposal
White House
Biden Unveils $1.52 Trillion Budget Proposal
April 9, 2021
by Dan McCue

WASHINGTON - President Joe Biden unveiled a $1.5 trillion budget proposal for the 2022 fiscal year, that among other things, includes a 16% increase in non-defense spending. In his first budget proposal as president, Biden is asking Congress for $753 billion for the Defense Department and... Read More

What People are Saying About the Biden Gun Control Proposals
White House
What People are Saying About the Biden Gun Control Proposals
April 9, 2021
by Reece Nations

WASHINGTON — Americans took to social media Thursday after President Joe Biden announced measures to curb the rampant spread of gun violence by restricting access to firearms. The measures, lauded by some and condemned by others, were laid out in a six-point plan of action involving... Read More

News From The Well
scroll top