iOn March 31, 2021, President Biden released details on the American Jobs Plan, which provides funding for infrastructure, clean energy, innovation and R&D, manufacturing and workplace support, and the caregiving economy. The proposal also includes revenue increase proposals to partially offset the new initiatives. Here is a summary of the amounts proposed in each major category:
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INFRASTRUCTURE AND CLEAN ENERGY |
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Transportation Infrastructure |
$ 621 billion |
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Roads and Bridges |
$ 115 billion |
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Public transit |
$ 85 billion |
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Passenger and Freight Rail |
$ 80 billion |
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Road safety |
$ 20 billion |
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Electric vehicles |
$ 174 billion |
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Airports, ports, waterways |
$ 42 billion |
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Reconnect neighborhoods |
$ 20 billion |
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Large projects |
$ 25 billion |
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Resilience |
$ 50 billion |
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Other |
$ 10 billion |
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Water, Electricity, Broadband |
$ 311 billion |
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Drinking water |
$ 111 billion |
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EPA state fund ($45 billion) |
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Water systems ($56 billion) |
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PFAS ($10 billion) |
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Broadband |
$ 100 billion |
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Electric Power |
$ 100 billion |
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Electric grid |
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Extend clean energy ITC, PTC; establish EECES |
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Reclamation ($16 billion) |
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Brownfield, Superfund ($5 billion) |
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Carbon capture and sequestration |
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Civilian Conservation Corps ($10 billion) |
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Homes and Buildings |
$ 378 billion |
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Retrofit Homes and Buildings |
$ 213 billion |
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Affordable rental housing |
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NHIA tax credits ($20 billion) |
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Zoning incentives |
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Public housing ($40 billion) |
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Clean Energy Accelerator ($27 billion) |
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Education and Child Care Facilities |
$ 137 billion |
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Public School modernization ($ 100 billion) |
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Community Colleges ($ 12 billion) |
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Child Care ($25 billion) |
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VA Hospitals |
$ 18 billion |
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Federal Buildings |
$ 10 billion |
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SUBTOTAL, INFRASTRUCTURE AND CLEAN ENERGY |
$ 1.310 trillion |
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CAREGIVING ECONOMY |
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Expand Medicaid Home and Community-based Care |
$ 400 billion |
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INNOVATION AND R&D |
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Future technologies |
$ 180 billion |
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NSF |
$ 50 billion |
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Rural, additional R&D |
$ 30 billion |
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Research labs |
$ 40 billion |
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Climate R&D |
$ 35 billion |
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HBCUs/MSIs |
$ 25 billion |
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Retool and revitalize manufacturing |
$ 300 billion |
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Commerce supply chains |
$ 50 billion |
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Semiconductors |
$ 50 billion |
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Medical countermeasures |
$ 30 billion |
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Clean energy (EV, nuclear) |
$ 46 billion |
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Regional innovation hubs |
$ 20 billion |
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NIST |
$ 14 billion |
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Manufacturing extension partnerships |
$ 2 billion |
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Capital access, sec. 48C |
$ 52 billion |
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Small business incubators |
$ 31 billion |
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Rural Partnership program |
$ 5 billion |
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Workforce Development |
$ 100 billion |
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Dislocated Workers program |
$ 40 billion |
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Underserved communities |
$ 12 billion |
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Apprenticeships, STEM |
$ 48 billion |
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SUBTOTAL, INNOVATION AND R&D |
$ 580 billion |
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TOTAL |
$ 2.290 trillion |
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LABOR REFORMS
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Enact the Protecting the Right to Organize Act
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Apply labor standards to infrastructure, clean energy funding recipients
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Increased penalties for workplace safety and health violations
REVENUES
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Raise Corporate Rate to 28%
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Increase Global Minimum Tax to 21%
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Global agreement on minimum corporate tax
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Limit Corporate Inversions
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Deny Offshoring deductions, create Onshoring credit
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Repeal Foreign Derived Intangible Income deduction
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15% minimum on corporate book income
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Eliminate fossil fuel tax incentives
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Increase corporate enforcement
