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Joe Biden's Basic Infrastructure Plan
What's the plan?
What are the funding details?
What are the funding details?
What are the funding details?
What are the funding details?
What are the funding details?
The 10-year, $1.3 trillion plan would dedicate $50 billion during his administration’s first year on fixing highways and bridges, as well as dedicate $5 billion over five years to electric vehicle batteries. It also would dedicate $400 billion over a decade for research and innovation of clean energy, provide $3.5 billion for infrastructure grants, provide $20 billion for rural broadband; allocate $100 billion to modernize schools and establish a $40 billion, 10-year Transformational Projects Fund. It would dedicate $5 billion for states to promote small businesses.
How would it be paid for?
What are the funding details?
How many jobs would it create?
Reversing the Tax Cuts and Jobs Act of 2017 anchors the plan’s source of funding. On the looming insolvency of the Highway Trust Fund, the plan indicated new revenues would be secured.
How many jobs would it create?
How many jobs would it create?
How many jobs would it create?
The plan would direct the U.S. Department of Transportation to work with unions to connect individuals with employment in automation. Also, the plan claimed millions of jobs would be created through a transition to a clean energy economy.
How would it impact taxpayers?
How many jobs would it create?
How would it impact taxpayers?
Biden's plan gives focus to jobs and migrating to electric vehicles and fleets to reduce energy costs, with environmental benefits. There is also focus given to expanding broadband access and schools.
Quote
How many jobs would it create?
How would it impact taxpayers?
“That $1.9 trillion that Trump gave away to the top 2%, we’re going to invest in families instead.” — Feb. 11, 2020
As President, Biden's first Relief plan legislation is a $1.9T package of direct relief payments, unemployment extensions, vaccine purchase & distribution, schools, and aid to state and local governments due to the economic impacts of COVID-19. The infrastructure proposal is for $4T and presented to congress on 2/23/31
Also see: GRIP Enhanced Build Back Better
General Analysis
What the Biden Plan Lacks
In fairness, Vice President Biden proposed this plan/outline prior to the COVID-19 pandemic and it's economic impacts.
Like most infrastructure plans, including the recent June 22, 2020 H.R. 2 enacted by the House, there is a bias of focus on roads and transportation. There is a focus on migrating vehicles to hybrid and electric, however, if there is no network/infrastructure for charging stations, this point is moot.
In General, the Biden plan needs priorities, timetables, and funding sources. This is going to take Public-Private Partnerships, communities forming co-ops and SPE/SPV corporations. It is also going take the cooperation and action of Congress (notably Ways & Means Committee) to modify, enlarge and enact changes in the federal tax code U.S.C. Title 26 and some modifications to U.S.C. Title 12 effecting Banking and Finance.
HOWEVER, nothing happens unless/until mitigation of the pandemic is addressed in the form of testing, contact tracing/tracking and the development of an effective and reliable vaccine. Therefore here are the first and primary steps to restore/recover the economy.
1. Mitigation of Pandemic.
This will need to be a joint effort between the next administration, the next Congress and the medical community. This medical infrastructure needs to include: testing (viral & antibody), tracking/tracing, PPE for first responders and the dissemination of a vaccine when developed. PSA campaigns to remind the public of the dangers and how infectious the virus is has proven necessary and practicing of hygiene (mask wearing, hand washing and social distancing) must be encouraged on a continuous basis.
The total cost for this is projected to be $192 billion and the source of funding needs to come from Families First Coronavirus Response Act, Medicaid, Medicare or FEMA and similar federal and state accounts.
2. Mitigation of Economic Impacts to Middle Class and Poor Taxpayers.
As with the CARES Act, The provisions in the HEROES Act ($3 trillion) and the H.R. 2 Moving America Forward Act (both awaiting and requiring Senate Vote), needs to provide financial assistance to the working class and working poor, who have gross incomes under $75K/yr.
The focus this time needs to be on the middle class and the poor, as this money would be spent in the economy, verses corporations who did stock buy-backs and dividends to stockholders, along with senior management bonus payments.
This not only happened with CARES Act and similar and is no surprise because this is what the banks did in 2008, when Obama bailed out the banks. There needs to be far better accountability and controls on these payments.
3. Re-opening Schools and Development of Innovations in Education.
In order for many to return to employment, other than work from home, their children need to return to school. For the children's sake this is beyond their academic needs (which have lagged due to shutdown), to include their pro-social skills development, their return to some structured routine to provide for their sense of stability and safety, but also extends to their nutritional needs for many.
Testing both viral and anti-bodies of the children is not only necessary for the safety of their peers, but to identify those children potentially act risk, in addition to being carriers. This will also assist in the contact tracing and tracking necessary to gain knowledge and control of the pandemic.
Funding for this can be realized through the Families First Coronavirus Response Act
4. Expansion of Broadband
This is necessary to expand e-commerce to areas not previously served. It also is a buffer for those who may need to once again work from home and also continue the education of public and private school students.
Here the inducement of some of the corporate $4 trillion in off-shore money with tax incentives is a very good option.
For costs and implementation plan, visit: Proposed Modified Biden Plan
5. Expansion of solar energy on residential and commercial structures.
This can be achieved by strengthening existing tax law deductions and credits for the installation of solar panels.
Likewise many HOA or communities may wish to form a co-op or SPE/SPV to become their own mini-grid utility, similar to the Ethiopian model. The role of state and federal government for initial formation capital can be in the form of low interest loans or loan guarantees.
As transportation infrastructure projects come on board and with the emphasis toward electric and hybrid vehicles, these 'mini-grids' could also charge vehicle charging stations, thus have a source of revenue generation.
Here the inducement of some of the corporate $4 trillion in off-shore money with tax incentives is a very good option.
For tax law changes, costs and implementation plan, visit: Proposed Modified Biden Plan
6. Storm water abatement
Whether it is attributed to global warming or other weather pattern and climate changes, the fact remains that flooding has become an increasing problem.
The system of dams, levies and storm water piping/pumping systems needs serious updating and upgrading. Some of these can be smaller hydro-electric generating facilities that could be a part of a communities utility co-op or SPE in a P3 structure.
This is another potential revenue generating source adding to the inducement of some of the corporate $4 trillion in off-shore money with tax incentives is a very good option.
For tax law changes, costs and implementation plan, visit: Proposed Modified Biden Plan
7. Water supply
While mitigating storm water abatement infrastructure, the existing water systems, emphasis Flint, Michigan can be addressed simultaneously reducing project costs.
For tax law changes, costs and implementation plan, visit: Proposed Modified Biden Plan
8. Sewage systems
While mitigating storm water abatement infrastructure, the existing water systems, emphasis Flint, Michigan sewage systems pipes can be addressed simultaneously reducing project costs. These can be done as a combined project for purposes of economic and community development.
For tax law changes, costs and implementation plan, visit: Proposed Modified Biden Plan
9. Public transportation and mass transit, including commuter rail
For tax law changes, costs and implementation plan, visit: Proposed Modified Biden Plan
10. Bridges
Bridges need to be given priority due to their condition and potentials for catastrophic failure.
For tax law changes, costs and implementation plan, visit: Proposed Modified Biden Plan
11. Roads
Road repairs can be done in tandem to other projects, which generate revenue in a comprehensive economic and community development packages.
For tax law changes, costs and implementation plan, visit: Proposed Modified Biden Plan
12. Airports and seaports
For tax law changes, costs and implementation plan, visit: Proposed Modified Biden Plan
