Host: Jim Phillips

Biden Infrastructure Plan

Biden scheduled to give a speech in Pittsburgh at 4:20 PM (nod to cannabis enthusiasts) today for part one of his infrastructure proposal.
Second package to be released in April that will cost more than $1T to focus on social measures, including expanding health care and paid-leave access and extending the child tax credit –offset by tax increases on wealthy individuals.
WH released a Fact Sheet on Biden’s American Jobs Plan.
$2.25T over 8 years paired with tax increases to pay for it in 15 years.
$621B in transportation infrastructure.
$20B for roads.
$85B for public transit.
$80B for Amtrak and rail.
$174B in electric vehicles.
$25B for airports.
$17B for waterways.
$20B for racial equity investments.
$25B for “shovel ready” projects.
$100B in digital infrastructure investment.
$100B to electric grid.
Ten-year extension and phase down of an expanded direct-pay investment tax credit and production tax credit for clean energy generation and storage.
100% carbon-pollution free power by 2035.
$16B in jobs retraining program for fossil fuel workers.
$5B in the remediation and redevelopment of these Brownfield and Superfund sites.
Lifts $3M cap on EDA public works programs.
Reforms and expands the Section 45Q tax credit, making it direct pay and easier to use for hard-to-decarbonize industrial applications, direct air capture, and retrofits of existing power plants.
$10B towards conservation jobs.
$213B to retrofit buildings and homes.
$20B worth of NHIA tax credits over the next five years will result in approximately 500,000 homes built or rehabilitated.
$40B for public housing infrastructure.
$27B Clean Energy and Sustainability Accelerator to mobilize private investment into distributed energy resources; retrofits of residential, commercial and municipal buildings; and clean transportation.
$100B to upgrade and build new public schools, through $50B in direct grants and an additional $50B leveraged through bonds.
$12B for community colleges.
$25B for childcare.
Expanded tax credit to encourage businesses to build childcare facilities at places of work. Employers will receive 50 %of the first $1Mof construction costs per facility so that employees can enjoy the peace of mind and convenience that comes with on-site childcare.
$10B for VA hospitals.
$400B toward expanding access to quality, affordable home- or community-based care for aging relatives and people with disabilities.