Last month, President Biden released his infrastructure plan that promises to solve several issues our nation is facing. The proposal comes with a hefty price tag of $2 trillion and would be paid over the span of 15 years with higher taxes placed on corporations. Here is how Biden’s plan breaks down:
Buildings and Utilities:
The pandemic has made it clearer than ever that millions had no access to the internet. In fact, over 30 million Americans didn’t have access and millions more just simply cannot afford it. This plan aims to fix that and sees internet as a necessity for all Americans. One of the largest line items in the plan, at more than $200 billion, intends to improve outdated utilities, including broadband internet, and provide more affordable housing. To solve the internet issue, one of the goals is to update our broadband network for internet access. Around $100 billion is being allocated to bring broadband into the future as part of an eight-year infrastructure plan, forcing greater competition that will also (hopefully) lead to lower prices. The plan also includes more than $200 billion for housing programs, including $40 billion in public housing.
Transportation:
Looking at our aging highway network, current transportation methods, and our reliance on fossil fuels, the Biden plan looks to update over 20k miles of American roads, make repairs on over 10k bridges, offer incentives for electric vehicles, and build a network of over 500k electric vehicle chargers (by 2030).
Clean Energy:
Clean-energy and environmental issues are also a major priority in Biden’s plan. The programs include $100 billion to bolster the country’s electric grid and phase out fossil fuels, in part by extending a production tax credit for 10 years that supports renewable energy. The top spending item in this category is investing in electric transportation, with nearly $174 billion allocated for that segment alone.
Jobs and Innovation:
While physical infrastructure is the main component of this plan, it does map out spending over $500 billion within the manufacturing sector for worker training as well as research and development. With Biden looking to lean more on green energy and less on fossil fuels, he’d like to transition fossil fuel workers to other key jobs. The plan includes $16 billion to employ Americans to restore land that was once used for coal mining. Chris Castro, Orlando’s Director of Sustainability and Resilience explained, “There are over 250,000 solar jobs in the country and it’s still in the low single digit percentages of power in the entire United States. When you compare that, coal mining jobs are less than 50,000 currently and dwindling. One of the greatest economic and job creation opportunities of the 21st century is this transition toward a low-carbon economy.” With these green energy initiatives we can bring significant employment boost.
At Home Care:
Approximately $400 billion will be invested in home-based care for the elderly and disabled while also improving pay and benefits for their caregivers.
While the plan isn’t perfect, and many disagree over specific details and decisions, all are likely to concur that significant investments in traditional and digital infrastructure and related technologies can massively change how we Americans work, learn, and live. Like any piece of a puzzle, Biden’s Infrastructure plan won’t solve all the nation’s problems but if it passes Congress, it would be a start at building a better tomorrow.
Sources:
https://www.govtech.com/fs/Biden-Infrastructure-Plan-Boosts-Broadband-and-a-Lot-More.html
About the Author: Taylor Genter
Taylor is a Marketing Manager at Extract with experience in data analytics, graphic design, and both digital and social media marketing. She earned her Bachelor of Business Administration degree in Marketing at the University of Wisconsin- Whitewater. Taylor enjoys analyzing people’s behaviors and attitudes to find out what motivates them, and then curating better ways to communicate with them.