Automobile

Biden’s infrastructure deal with the bipartisan senators is clear at a glance

[ad_1]

President Joe Biden Talk to Ohio Senator Rob Portman outside the White House on Thursday. Pictured, from left to right, Senator Jenny Shaheen (DN.H.), Portman, Senator Bill Cassidy (R-La.), Senator Lisa Murkowski (Lisa Murkowski), Republican Party (R-Alaska), Biden, Senator Joe Manchin (DW.Va.), Senator Kyrsten Sinema, D-Ariz., Senator Mark Warner, D-Va. and Senator Mitt Romney, R-Utah. (Associated Press)

Washington—President Joe Biden and senior White House officials cheered the initial infrastructure agreement between the two parties, proving that Washington—and even American democracy itself—can achieve tangible results in a situation where partisan differences are huge.

But ensuring that the deal provides only a small portion of the investment he originally proposed requires the Democratic president to make a huge sacrifice. After Senate Minority Leader Mitch McConnell criticized the two-track plan to pass a second spending bill later, it was challenged by Congress later on Thursday.

The bipartisan framework is worth US$1.2 trillion in eight years, of which US$579 billion is new spending.

Biden insisted that he will continue to fight for his priorities, including what he calls “human infrastructure” and more environmental project funding, in a separate Democratic bill, and insisted that he will not be in the absence of other options. In case of signing a plan.

The following is a comparison of the compromised infrastructure bill agreed to by the senator on Thursday and the original proposal:

transport

— $312 billion in new funding For roads, bridges, public transportation and Electric car Infrastructure, about half of the $621 billion Biden sought in March.

— Of this, US$109 billion is used for roads and bridges. This is the largest project in the plan, but in the long run, the American Society of Civil Engineers estimates that the country has a backlog of $786 billion in road and bridge capital needs.

— Provide additional funding of US$66 billion for passenger and freight railways, For Biden, this is a huge personal priority. He has driven more than 1 million miles on Amtrak, which is less than the $80 billion in the original proposal.

— 49 billion US dollars for public transportation, This is below the $85 billion originally proposed.

-US$25 billion is spent on airports.

— US$7.5 billion to build a national electric vehicle charging network Along highways and rural and disadvantaged communities.

— US$7.5 billion for electrification Thousands of school buses and buses, and promote the domestic manufacturing of zero-emission vehicles and parts.

— The biggest decline is in electric vehicle technology, Biden once proposed to invest 174 billion US dollars, of which 100 billion US dollars will be used for electric car consumers rebate, But after canceling the rebate, the new plan only requires 15 billion U.S. dollars. Congressional Democrats still plan to seek funding for electric vehicle tax rebates in other legislation this year.

vitality

Expenditures increased by $73 billion Establish a wider network of transmission lines to transmit solar and wind power to households and businesses throughout the county.

Broadband

$65 billion increase in spending In terms of broadband infrastructure, it is lower than the $100 billion proposed by the President. Biden has made increasing Internet access for all Americans a top priority, especially considering the huge gap exposed during the pandemic, when many low-income Americans and people in rural areas encountered difficulties working and studying at home.

Environmental remediation

Biden vowed to replace 100% of national lead pipes And the service line, his assistant said this will still happen, but the total amount used for environmental remediation has fallen from the original proposal of 111 billion US dollars to 21 billion US dollars.

This is part of the $55 billion to improve the drinking water and wastewater systems in the United States. Left on the floor of the cutting room are billions of dollars that Biden hopes to invest in modern American drinking water, wastewater and rainwater systems.

Human infrastructure

The proposal completely omitted US$400 billion in Medicaid funds to fund home care for the elderly and the disabled, and approximately US$200 billion to create free universal “preschools” and expand other childcare services.

Affordable house

Biden’s original proposal also included US$213 billion for production, protection and transformation of more than 2 Millions of affordable places to live. He will have to fight to include this money in the Democratic Party-only budget plan.

payment method

One of the most obvious differences is who will pay for all this. Although Biden promised to raise corporate income tax to fund infrastructure construction, the Republicans are nothing.The New Deal brings together a patchwork of the IRS’s strengthening of law enforcement, the sale of oil reserves, and the redistribution of funds from unused unemployment Insurance Welfare and municipal bonds, etc.

Biden does not want to increase the amount of money normally used to fund highways and transportation, federal natural gas, and diesel engine tax. Republicans do not want to raise corporate taxes. The result is a competition for cash. Legislators proposed to withdraw funds from existing plans to pay bills and combat tax evaders. auction 5G service spectrum and at least a reliable congressional reserve, sell some strategic oil reserves.

According to a document by Ohio Senator Rob Portman (Rob Portman), legislators predict that through audits and improved customer service, an additional $40 billion spent on IRS will generate approximately $140 billion in additional federal revenue. The agency has been hit by budget cuts that began about a decade ago, reducing its staff and the number of audits it performs.

Another important revenue increase will come from the recovery of the unused $80 billion in COVID relief funds and the recovery of part of the supplementary unemployment insurance stipulated in this year’s COVID Relief Act, which is $25 billion. Dozens of states have rejected the federal government’s provisional benefit of $300 a week, claiming that the benefit will prevent people from returning to work.

Legislators also estimate that they can raise $65 billion and $72 billion for spectrum auctions for 5G services by improving the integrity of the state’s unemployment insurance system.Fraud criminals, sometimes in China, Nigeria or Russia, they bought stolen personally identifiable information on the dark web and flooded the national unemployment system with false statements.

The Associated Press contributed to this report.

Related videos:

[ad_2]

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button