What is in the Biden infrastructure plan | #insurance | #seniors | #elderly
The proposal comes just a few weeks after Biden’s $1.9 trillion covid relief package was signed into law, sending $1,400 stimulus checks to most Americans and extending unemployment benefits.
The American Jobs Plan is expected to be followed by a second economic package in April that includes a major expansion in health insurance coverage, child care subsidies, free access to community colleges and other proposals.
Biden is scheduled to speak about the plan on Wednesday afternoon in Pittsburgh. Here’s what’s in the proposal, according to White House summaries and breakdowns:
Infrastructure: $620 billion
- The plan would invest $115 billion to revamp highways and roads, including 10 major and 10,000 smaller bridges in need of reconstruction. It also includes $20 billion to improve road safety, including for cyclists and pedestrians.
- The plan calls for $85 billion to modernize existing transit systems and help agencies expand to meet rider demand. The investment would double federal funding for public transit.
- Biden is proposing $80 billion to fix Amtrak’s repair backlog.
- Biden’s proposal establishes $174 billion in grant and incentive programs for state and local governments and the private sector to build a national network of 500,000 electric vehicle chargers by 2030.
- It seeks to replace 50,000 diesel transit vehicles and electrify at least 20 percent of the country’s “yellow” bus fleet.
- The plan invests $25 billion in airports, including programs to renovate terminals and expand car-free access to air travel.
- Biden is also pitching $17 billion for inland waterways, coastal ports, land ports of entry and ferries to invest in the nation’s freight system.
- The American Jobs Plan targets 40 percent of climate and clean infrastructure investments to disadvantaged communities.
Infrastructure “at home”: $650 billion
- Biden’s proposal invests $213 billion to build and retrofit more than 2 million homes. The plan would build and rehabilitate more than 500,000 homes for low- and middle-income home buyers and invest $40 billion to improve public housing.
- Biden’s proposal aims to deliver universal broadband, including to more than 35 percent of rural Americans who currently lack access.
- The plan invests $111 billion to replace the country’s lead pipes and service lines. The effort would reduce lead exposure in 400,000 schools and child-care facilities and improve the safety of drinking water.
- The proposal calls for $100 billion to upgrade and build new public schools. It also invests $12 billion in community college infrastructure and $25 billion to upgrade child care facilities.
- The plan would put $16 billion toward hundreds of thousands of jobs plugging oil and gas wells and reclaiming abandoned coal, hardrock and uranium mines. Jobs would also be created to lay transmission lines.
- Biden is proposing $18 billion to modernize Veterans Affairs hospitals and clinics, and $10 billion to revamp federal buildings.
- The plan also invests $10 billion for conservation workers, including those focusing on public lands and environmental justice.
Care economy: $400 billion
- The plan expands access to home- or community-based care for seniors and people with disabilities. It would extend a Medicaid program, Money Follows the Person, to move elderly nursing homes residents out of nursing homes and back into their own homes or into the care of loved ones.
- Biden also calls for improving working conditions, including higher wages and more benefits, for caretakers, who are disproportionately women of color and who have largely stayed on the job during the coronavirus pandemic.
Research and development, manufacturing and training: $580 billion
- Biden’s proposal invests $180 billion in research and development. That includes a major clean-energy push to reduce emissions, build climate resilience and boost climate-focused research.
- The plans invests $50 billion in domestic semiconductor manufacturing.
- It would provide incentives for companies to locate local manufacturing jobs in the industrial heartland.
- The plan would double the number of registered apprenticeships to more than 1 million. It also invests in a more inclusive science and technology workforce.
- The White House plan calls for about $2 trillion in new spending over eight years and enough to pay for the measure over 15 years. That is partially because the new spending measures come off the books while the tax hikes being proposed would be permanent.
- The plan raises the corporate tax rate from 21 percent to 28 percent.
- It also increases the global minimum tax paid from about 13 percent to 21 percent.
- The proposal ends federal tax breaks for fossil fuel companies.
- It also ramps up tax enforcement against corporations and prevents U.S. corporations from claiming tax havens as their residence.
Jeff Stein contributed to this report.