Biden's Infrastructure Bill Going Forward

Construction companies around the country have been focused the Build Back Better Bill. Now that has passed, contractors will turn their sights on potential projects as more taxpayer money gets flooded into the system.

Last Friday the House approved the $1 trillion infrastructure bill that will pump the money into improving roads, bridges, railways, buildings and more.

Part of that infrastructure includes a pivot towards clean energy incentives including building half a million charging stations, and replacing gasoline school buses with electric.

The Green New Deal plan of attack also targets the Department of Energy with an objective of transitioning the country to 100% carbon-free electricity production by 2035 by establishing a “Grid Deployment Authority”.

Also in the BBB plan is $213 billion for building and retrofitting more than 2 million homes and $40 billion to improve public housing. $111 billion is slated for modernizing drinking water, wastewater, and storm water systems. $45 billion would go towards replacing lead water piping in the country.

$100 billion was slated to be pumped into upgrading public schools, $25 billion to upgrade childcare facilities, and $12 billion to improve community colleges.

Money that would go towards non-infrastructure projects includes $180 billion on research and development, including substantial expenditures in clean energy and basic climate research. It would also spend $50 billion on semiconductor technology and $300 billion for manufacturing.

Funding of the bill will be by raising the corporate tax rate, partially reversing the Trump Administration’s “Made in America Tax Plan”.

Democrats now set their sights on passing President Biden's controversial social spending package that faces the threat of changes in the Senate as Democrats navigate a slim majority and tricky budget rules.

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