President Joe Biden unveiled a sweeping infrastructure plan that aims to invest $2 trillion over eight years to rebuild roads, bridges, and other infrastructure, while also investing in clean energy and broadband internet. The plan, which is one of the most ambitious infrastructure investments in U.S. history, is designed to create millions of jobs and boost the economy..
The plan includes a number of key components, including:.
* $621 billion for transportation infrastructure, including roads, bridges, and public transportation.
* $311 billion for clean energy and climate change mitigation.
* $111 billion for drinking water infrastructure.
* $100 billion for broadband internet access.
* $85 billion for power infrastructure.
* $65 billion for housing.
* $45 billion for schools and community colleges.
* $25 billion for manufacturing.
* $20 billion for research and development.
* $15 billion for veterans’ hospitals.
The plan is designed to be paid for by a combination of increased corporate taxes, user fees, and other revenue streams. Biden has proposed raising the corporate tax rate from 21% to 28%, and he has also proposed eliminating tax loopholes that allow corporations to avoid paying taxes..
The plan has been met with mixed reactions from Congress. Democrats have generally praised the plan, while Republicans have criticized its cost and its reliance on tax increases. However, the plan is likely to undergo significant changes as it makes its way through Congress..
Biden has made infrastructure a key priority of his presidency, and he has said that he believes that it is essential to rebuild the country’s infrastructure in order to compete in the 21st century economy. He has also said that he believes that the plan will create millions of jobs and boost the economy..
The plan has been endorsed by a number of business groups, including the Business Roundtable and the U.S. Chamber of Commerce. However, some economists have expressed concerns about the plan’s cost and its potential impact on inflation..
The plan is likely to be debated in Congress for months, and it is unclear whether it will ultimately be passed into law. However, the plan is a significant step forward in the effort to rebuild the country’s infrastructure and boost the economy..
