The White House is paying for the proposal, called the American Jobs Plan, as a domestic investment that has not been seen in the US since the construction of international highways in the 1950s and the Space Race a decade later.
Biden wants to raise taxes on companies to pay for an eight-year utility package, according to a management official. He would propose an increase in corporate taxes to 28% – reset before the passing of President Donald Trump in 2017 – and review how US companies charge international companies by raising lower corporate taxes by 21%.
Biden will officially launch the program on Wednesday afternoon in a speech at a training center in Pittsburgh, where he will address the issue of “urgent urgency” and “revitalize our worldview and get millions of Americans to work now,” the official said.
It will be the first part of Biden’s major “Build Back Well” agenda, with a separate proposal that will focus on health care, education and child care expected in April.
Biden faces a major political challenge to gain Republican support for Congress through its legal process, as infrastructure often has broad political support. The Republicans have opposed the proposed tax increase and warned that they would oppose a package that leaves the foundation of transport infrastructure and tackles climate change and social justice.
$ 621 billion for roads, bridges, trains and electric vehicles
The American Jobs Plan will draw $ 621 billion into transport and resilience infrastructure, including the repair and construction of roads, bridges, transportation and rail services.
That includes making 20,000 miles of roads, repairing bridges “the most economically important” in the U.S. Repairing 10,000 small bridges that are in poor condition.
Government funding for travel projects will double under the program. Biden also wants to direct $ 174 billion to electric vehicles: the construction of a national network of 500,000 electric car stations, the replacement of diesel cars, the replacement of buses and the provision of tax incentives and discounts to make electric cars more affordable.
Homes restored, installation of lead pipes, universal broadband
Another $ 213 billion in the program will go towards the reconstruction and construction of more than 2 million affordable homes, while $ 111 billion will replace all of the country’s best pipelines and service lines and improve wastewater drinking water and storm water systems.
The program will allocate $ 100 billion to develop and build new public schools; $ 100 billion to build high-speed broadband infrastructure to reach all Americans; and $ 100 billion to upgrade the national grid and investment in clean electricity.
The program is setting aside $ 18 billion to upgrade Veterans’ hospitals and facilities and $ 25 billion to upgrade child care facilities.
‘Care economy’ and climate research
Rural residents are queuing up to receive COVID-19 treatment at the Harlem Center for Nursing and Rehabilitation in New York on January 15th.
In one of the most expensive programs of the program, Biden has raised $ 400 billion to increase access to affordable care for the elderly and the disabled. This will include helping Americans find the services they need but are in need, and increasing caregivers, including salary increases for care workers. Most now earn about $ 12 an hour.
Biden proposed to increase access to long-term care services under Medicaid and to increase payments through the same state program.
With a view to making the US more competitive with China and other nations, the program will also review $ 180 billion in national research and development in technology and climate change. Strengthening national supply chains, the proposal will also provide domestic product incentives for critical assets such as semiconductors, batteries and clean energy technologies.