Home » US, Senate ok to bipartisan infrastructure plan: one trillion dollars to create 20 million jobs

US, Senate ok to bipartisan infrastructure plan: one trillion dollars to create 20 million jobs

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Green light from the US Senate to the Bipartsan Infrastructure Deal, a nearly trillion dollar plan, approved after the agreement reached by President Joe Biden and the senators. The planned investments, according to estimates by the White House, will lead to the creation of about 2 million jobs every year over the next ten years.

Here are the key points of the agreement that the Associated Press was able to consult: 110 billion dollars for roads and bridges. The $ 40 billion for bridges is the largest investment dedicated to bridges since the construction of the interstate highway system; 39 billion dollars for public transport. The money would be used to modernize bus and subway fleets and bring new services to communities. That’s about $ 10 billion less than originally designated by the senators who negotiated the deal; 66 billion dollars for rail passenger and freight transport. The money will be used to reduce Amtrak’s maintenance backlog, improve Amtrak’s 457-mile northeast corridor and other routes, and improve level crossing safety; 7.5 billion for electric vehicle charging stations, which according to the administration are essential to accelerate the use of electric vehicles to curb climate change.

And again: $ 5 billion for the purchase of electric and hybrid school buses, reducing dependence on diesel-powered school buses; $ 17 billion for ports and $ 25 billion for airports to reduce congestion and tackle maintenance arrears; $ 55 billion for water and wastewater infrastructure, including funding to replace all of the nation’s utility lines using lead pipes; $ 65 billion to expand broadband access, a particular problem for rural areas and tribal communities. Most of the money would be made available through state grants; $ 21 billion to clean up superfund and brownfield sites, clean up abandoned mining lands and plug obsolete gas wells; 73 billion dollars for the modernization of the national electricity grid and the expansion of the use of renewable energies.

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Furthermore, according to the distribution of the funds, the plan foresees to use about 205 billion dollars in unspent Covid-19 relief aid.

Congress has provided approximately $ 4.7 trillion in emergency assistance in response to the pandemic. The funds will also draw on approximately $ 53 billion in unemployment insurance aid that the federal government was providing to complement state unemployment insurance. Dozens of states are refusing to take the federal supplement. About $ 49 billion will still be tapped by further delaying a ‘Medicare’ that grants beneficiaries discounts that now go to insurers and intermediaries called pharmaceutical benefit managers. The drugmakers trade association argued that the rule would help reduce out-of-pocket costs for patients, but the Congressional Budget Office predicted it would increase taxpayer costs by $ 177 billion over 10 years. And again: raising about 87 billion dollars in spectrum auctions for 5G services; re-launch of a tax on chemical producers that expired in 1995, raising about 13 billion dollars.

The money had been used to help fund the cleanup of the Superfund sites. In addition, the sale of oil from the Strategic Petroleum Reserve would add about $ 6 billion. Tax enforcement will be strengthened when it comes to cryptocurrencies, raising around $ 28 billion. It will also build on expected economic growth from investments to bring about $ 56 billion.

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