Thread by @MesMitch

President Biden unveiled a $2 trillion jobs and infrastructure plan Wednesday to address some of the country’s most pressing problems, including damaged bridges, unequal broadband access, climate change and care for people with disabilities and the elderly.

The proposal seeks to replace 50,000 diesel transit vehicles and electrify at least 20 percent of the country’s yellow school bus fleet.

Biden’s proposal would invest $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 lack access to high-speed Internet.

The plan would invest $111 billion for clean drinking water, $45 billion of which would be used 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 would invest $12 billion in community college infrastructure and $25 billion to upgrade child-care facilities.washingtonpost.com/us-policy/2021…

he 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 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 would invest $180 billion in research and development. That includes a major clean-energy push to reduce emissions, build climate resilience and boost climate-focused research.

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Tax overhaul

The White House plan calls for about $2 trillion in new spending over eight years. The proposed tax increases would cover that cost over 15 years and become 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.

Responding to climate change

Much of Biden’s spending package focuses on green infrastructure and job creation. For example, the White House says automakers could hire workers to make batteries and parts for electric vehicles, shoring up their own supply chains. #ClimateAction

Consumers would also get tax incentives to buy American-made electric vehicles.
The White House says that 40 percent of the benefits of its climate and clean-infrastructure investments would go to disadvantaged communities.#ClimateAction

The Biden administration argues that retrofitting homes and public infrastructure will reduce the billions of dollars in damage caused by climate disasters. The plan calls for $50 billion to improve resilience to climate change, including by protecting electric grids,

food systems, urban infrastructure and hospitals in communities most vulnerable to flooding and other severe weather events
The infrastructure overhaul would also cover protection from wildfires, sea-level rise, hurricanes and droughts and shore up dam safety.#ClimateAction

The plan would put $35 billion toward clean-energy technology, new methods for reducing emissions and other broad-based climate research.#ClimateAction

The plan would establish an Energy Efficiency and Clean Electricity Standard that would set specific targets to cut how much coal- and gas-fired electricity power companies use over time.#ClimateAction