By Lauren Schapker, vice president of legislative affairs, ARTBA
Former Vice President Joe Biden July 14 released new details on his strategy to address America’s infrastructure challenges. His “Build Back Better” proposal calls for a $2 trillion infrastructure investment over four years—an increase from the $1.3 trillion plan he released last November. The $2 trillion investment includes not only roads, bridges, and public transportation, but also schools, broadband, and housing.
The proposal has many provisions that mirror efforts in the Moving Forward Act, the infrastructure bill passed July 1 by the House of Representatives. Biden suggested his plan would create millions of jobs rebuilding America’s infrastructure.
“Even if we weren’t facing a pandemic and an economic crisis, we should be making these investments anyway,” Biden said while unveiling the plan.
His proposal views infrastructure investment through the lens of clean energy and climate change, using investments in transit and environmentally-friendly construction products like “clean cement and steel,” to address deficiencies in transportation systems.
The plan lacks specifics on paying for the $2 trillion investment. It suggests taxes on corporations and wealthy individuals as a possible means.