Biden’s New Deal: Where’s the Money for the New Economic Plan
US president Joe Biden’s $ 2.3 trillion plan seeks not only to replace basic U.S. infrastructure such as roads and bridges but also to chart a new path to America’s future while adding millions of jobs and encouraging new areas, especially greens.
A little over a week has passed since Biden delivered a speech in Pittsburgh, in which he detailed the main intentions of his second economic plan since storming into the White House. The first went through $ 1.9 trillion last month, and now the second larger-scale plan, $ 2.3 trillion, is on the horizon. After the big words start to disperse, the picture about the details of the show begins to clear up.
While the new program is rather “gray” defined as an “infrastructure” program, the software and its essence are much more exciting. It is an ambitious plan that “also” is intended to replace infrastructure, but it also has clauses that include investments of hundreds of billions of dollars in power development, as well as in research and development. It is not by chance that she has been nicknamed the “New Deal”.
What is hidden in the plan? Will the Republicans support this time? How will the program deal with the issue of workers of the “old” professions and who will fund it? Globes makes an order.
What’s in Biden’s infrastructure plan?
Much of the money in the program is for renovating roads, bridges and other parts of national infrastructure but in addition, hundreds of billions will be invested in providing solutions to climate change, including helping the automotive industry move from gasoline-based vehicles to electricity, establishing a “climate conservation force” and stimulating private investment in wind and solar energy.
The importance of this issue in the current administration can be learned from the fact that the effort to encourage the transition from fuel to electricity receives more budgets – $ 174 billion – than the plan aims to spend on highway and bridge repairs – about $ 115 billion. The program will also expand the care of the elderly and the care of the disabled by several hundred billion and will also assist parents in the field of education.
As mentioned, the program includes an investment of hundreds of billions of dollars in manufacturing, research and development, as well as the development of America’s future workforce.
The program also seeks to provide high-speed broadband to “all of America.” According to the White House, some 30 million Americans are disconnected from the Internet over broadband, which inevitably “leaves them behind.” The administration is seeking to invest about $ 100 billion to fix the problem.
Biden's New Deal: Where's the Money for the New Economic Plan - /10