Earlier this year, President Biden announced his American Jobs Plan – a historic investment that will rebuild our country’s aging infrastructure while also providing millions of good jobs.
The nearly 2.3 trillion-dollar investment will aid in reimagining a new economy and positioning America to be the leader in infrastructure and innovation once again.
Within the total investment, 40 percent will target climate issues and clean infrastructure. In terms of improving infrastructure alone, President Biden’s new plan will:
Fix 20,000 miles of highways, roads, and main streets; rebuild bridges in despair; and upgrade airports, ports and transit centers in the areas that need them most.
- $115 billion to repair roads and bridges
- $85 billion for public transit
- $80 billion for Amtrak
- $25 billion for airports
- $17 billion for ports and waterways
- $44 billion for transformative projects
- $20 billion for safety
- $20 billion to redress historic inequity (such as reconnecting neighborhoods divided by major roadways)
Rebuild clean drinking water infrastructure by removing all lead pipes and service lines; renew electric grid and cap orphan oil and gas wells; and bring affordable high-speed broadband to all including the 35% of rural Americans who currently lack access.
- $101 billion to upgrade drinking, wastewater, and stormwater systems
- $10 billion for PFAS remediation
- $100 billion for energy grid buildouts
- $50 billion to improve infrastructure resilience
- $100 billion to improve rural broadband coverage (includes subsidies to make rates more affordable)
President Biden’s American Jobs Plan will be funded by raising the corporate tax rate, part of his ‘Made in America Tax Plan’, which would hopefully pay for the American Jobs Plan within 15 years (if passed alongside each other).
In response to President Biden’s proposed plan, Senate Republicans offered a counterproposal in efforts to improve the country’s aging infrastructure. This plan is solely focused on infrastructure needs and endorses $568 billion for new spending over five years.
The funds will be allocated in the following ways:
- $299 billion for repairing roads, highways, and bridges
- $44 billion for airports
- $61 billion for public transit
- $35 billion for drinking water and wastewater systems
- $14 billion for water storage
- $20 billion for railways
- $17 billion for ports and inland waterways
- $13 billion for safety measures
- $65 billion for broadband internet access
This infrastructure plan would be fully funded, potentially in part through user fees on electric vehicles as well as repurposing state and local relief passed as part of coronavirus aid bills.
President Biden will be meeting with six Republican senators to hopefully come to a mutual compromise later this week.