How much Biden's 2 trillion plan invests in digital and the environment

One hundred billion for broadband, as much for the development of renewable energy and access to drinking water. Investments to strengthen national supply chains of chips and electric cars

(Photo: Chip Somodevilla / Getty Images) Stop to subsidies for fossil fuels and two trillion dollars of public funding for infrastructure, broadband, electric vehicles, clean energy , drinking water and welfare. US President Joe Biden has announced the new government investment package he intends to present to Congress. The goal is to transform and relaunch the country's economy, win economic competition with China and demonstrate that "democracy works".

It's called the American job plan and aims to create millions of jobs and steer the US economy towards a lower environmental impact. "Every dollar spent - reports the White House fact sheet - will be used to prevent, reduce and resist the impacts of the climate crisis". One of the most important points of the project is in fact the elimination of state subsidies to companies that deal with fossil fuels and the investment of 16 billion for the reclamation of abandoned oil and gas wells.

Areas of investment

A large part of the funding will be directly dedicated to the development of environmentally sustainable technologies and infrastructures. 174 billion will go to electric cars and charging infrastructures; 165 billion for the development and modernization of railways and public transport, including the electrification of buses. In addition, 213 billion will be dedicated to the creation of eco-sustainable and affordable housing, 100 billion for the electricity grid and the development of renewable energy and 100 billion to combat water pollution and ensure access to drinking water

Great attention was also given to research and development with 180 billion, in particular with respect to new technologies, and to the increase in the national production of semiconductors (microchips) with an investment of 50 billion. In addition, 100 billion will be allocated to the laying of the infrastructures necessary to guarantee access to broadband for all and all.

Compared to other investment sectors, 400 billion will be used to build and improve welfare structures for people elderly and those with disabilities; 137 for the renovation of public schools and universities; 115 for the renovation of s trade, motorways and bridges and another 150 will be used for airports, ports and other infrastructures; 300 will be earmarked for small and medium-sized enterprises and crafts.

Finally, 100 billion dollars will be earmarked for the protection of workers and the creation of jobs supported by trade unions. The plan also contains the bill to protect the right of workers to join trade unions, the Protecting the right to organize act.

A "powerful and daring" infrastructure plan, as Biden said, which provides for state investments equal to 1% of US GDP, to be spent over 8 years. To finance this mammoth public spending, Biden proposed raising corporate taxes to 28%, after the previous administration had taken them from 35% to 21%. In this way, the expected collection is 1,000 billion over 15 years. In addition, the plan also provides for an increase in the contributions that multinationals should pay on revenues abroad and an increase in taxes for all incomes over 400 thousand dollars a year.


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Topics

Environment Broadband Climate Energy Solar energy Joe Biden United States globalData.fldTopic = "Environment, Broadband, Climate, Energy, Solar, Joe Biden, United States"

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