What Biden’s $ 2 Trillion Infrastructure Plan Means to You

2011 02 08T120000Z_1641923879_GM1E7281QJQ01_RTRMADP_3_BIDEN.JPG

President Joe Biden speaking on an Amtrak train in February 2011. Larry Downing / Reuters

  • President Joe Biden announced the first part of his infrastructure package on Wednesday.

  • It’s called America’s Employment Plan and will have widespread implications for millions of Americans.

  • Here’s how some of those regulations, such as technology and transportation, can affect you:

  • See other articles on Insider’s business page..

President Joe Biden is willing to spend a fortune.

The first part of his next radical economic package (focused on different types of infrastructure spending) $ 2 trillion price tag.. Combined with the second part of the package, it could cost about $ 4 trillion if announced within a few weeks.

In him Wednesday announcement Biden emphasized the importance of rebuilding the entire middle class, not just the collapsing roads and bridges, in America’s employment program.

“Even before the crisis we are facing now, the top Americans were doing very well. That’s great,” Biden said. “They were doing well, but everyone else was late.”

“If all of us go well, we’ll all be better,” he added. “It’s time to build the economy from bottom-up and middle-out, not top-down.”

The package certainly faces a long, rocky road before anything goes to law. But here’s how your current plan could affect you if all that provisions are passed.

Whether you commute by train, bus or car, you can feel the impact of the infrastructure package.

Broadly speaking, transportation infrastructure will get an investment of $ 621 billion. The biggest spending is on the modernization of roads, bridges and highways. Electric vehicles; public transport; and Amtrak.

“American employment plans are building new rail corridors and transportation lines, reducing congestion, reducing pollution, reducing commuting times, opening up investment in communities that can connect to cities, and cities do a lot of work. Will be in the suburbs where is taking place recently. ” “It will reduce commerce bottlenecks at our ports and at our airports.”

Large investments are expected in electric vehicle ports, and Americans will increase their incentives to buy clean energy vehicles. They can drive them on 20,000 miles of modernized roads and highways. Jump on the improved Amtrak route..

“Imagine what we can do and what is within our reach as we modernize those highways,” Biden said. “You and your family can move from shore to shore without having to load a tank of petrol on a high-speed train.”

Color students and researchers will get more money

Biden will allocate $ 180 billion to R & D. This includes more $ 35 billion in climate research and development alone for climate causes. This is part of his efforts to reverse the long-standing trend of declining federal funding for research and development.

“Decades ago, the US government spent 2% of its GDP on research and development,” Biden said. “Today we use less than 1%. I think it’s 7/10 of 1%.”

In particular, this plan has a special carve-out for color students. Half of the $ 40 billion allocated for research infrastructure upgrades will go to the Historically Black Colleges (HBCU) and the Minority Serving Institution (MSI). HBCU and MSI will also earn $ 10 billion and an additional $ 15 billion to create more than 200 centers that will act as research incubators.

“American employment plans are the largest increase in our federal government’s non-defense R & D spending,” Biden said.

Workers in the long-term care industry in particular will get new benefits (such as childcare at work).

Care workers and those who depend on them are standing to see a large amount of cash injections. This package will direct $ 400 billion to home and community care for the elderly and disabled, expanding both access to services and benefits for space workers.

“For too long, disproportionately female, colored and immigrant caregivers have been invisible, low-paying and undervalued,” Biden said.

Childcare facilities will earn $ 25 billion for upgrades. There are also tax credits that encourage employers to build childcare facilities.

Biden also Regulations below the minimum wage, If the employer can pay a worker with a disability less than the federal minimum wage.

The union was also a big topic throughout his speech, and Biden self-identified as a “union man.”He asked for a passage Protection of the Right to Organize (PRO) Act..

“The union has built a middle class,” Biden said. “It’s about time they start getting some of their actions.”

Everyone will have access to (affordable) broadband internet

Deserves a technology overhaul Over $ 300 Billion It could mean more affordable and equitable Internet access across the country.

Biden has proposed a $ 100 billion investment in broadband to ensure that broadband reaches 100% coverage nationwide while promoting price transparency.

In his speech on Wednesday, Biden said more than 35% of rural Americans lacked access to high-speed internet, and inequality only worsened during the pandemic. His infrastructure plan will help with that.

“When I say’affordable’, I mean that,” Biden said. “Americans are paying a lot for Internet services. We’re going to lower the prices of families who are currently using the services and make them available now to families who don’t have access to affordable services.”

Small businesses and non-working Americans will benefit from the new program

In addition to helping small businesses and American manufacturers with stimulus, Biden Invest $ 400 billion To strengthen and protect American business.Infrastructure bill is based on the president’s “by American” Executive order In January, we will encourage and promote domestic production of goods.

“I don’t have a contract I manage and I don’t go to American companies or American workers who sell American products,” Biden said.

Workers can also be expected to invest in job creation and training efforts, which will enhance worker protection, including efforts to prevent discrimination in the workplace and support the right to unite.

More affordable homes will be built

The housing sector can expect significant improvements in Biden $ 300 billion investment Renovate homes, schools, and federal buildings across the country. 500,000 homes will be built and rehabilitated for low- and middle-income homebuyers, creating jobs to build one million affordable and accessible home options.

“We will build, upgrade and weather-resistant affordable, energy-efficient residential and commercial buildings for millions of Americans,” Biden said.

In addition to building affordable housing, Biden’s plan is to update the infrastructure of community colleges, invest $ 28 billion to modernize veterans’ clinics and hospitals, and make the federal government more sustainable. Promote the building.

Read the original article Business insider