Biden unveils $2.25t infrastructure plan
Legislative Watch: Legislative Watch: Federal court stops increased line speeds; Delay ELD enforcement; Deputy under secretary for food safety named.
P. Scott Shearer, National Hog Farmer
Apr 02, 2021
President Joe Biden unveiled this week his $2.25 trillion infrastructure plan, "The American Jobs Plan," that makes major investments in highways, bridges, electric grid, broadband, and waterways.
The administration is advocating that rebuilding the nation's infrastructure will lead to an economic boom. President Biden said in announcing the plan in Pittsburg, "It will create millions of jobs, good-paying jobs. It will grow the economy, make us more competitive around the world, promote our national security interests and put us in a position to win the global competition with China in the upcoming years."
The proposal is facing Republican opposition because of the various business tax code changes, including raising the corporate rate from 21% to 28%, which will be used to pay for the plan.
The plan includes $621 billion for transportation, including roads, bridges, and waterways. It provides $115 billion to modernize 20,000 miles of highways and roads and rebuild 10,000 of the nation's most fragile smaller bridges. The White House said one in five miles of the nation's highways and major roads is in "poor" condition, as well as 45,000 bridges. The proposal includes $17 billion for inland waterways, ports and ferries.
There are investments in critical services such as water, broadband and electricity. The plan allocates $111 billion for clean and safe drinking water, including replacing 100% of the nation's lead pipes and service lines and upgrading and modernizing drinking water, wastewater, and stormwater systems. It includes $100 billion for broadband to ensure the entire country has access. It allocates $100 billion to update the electrical grid.
Federal court stops increased line speeds for pork ...
Delay ELD enforcement ...
New markets for state inspected meat ...
USDA and National Farmers Union welcome the American Jobs Plan
The Cattle Site
02 April 2021
The National Farmers Union says it is "encouraged" by the newly-announced American Jobs Plan, saying that it provides much-needed investment in rural infrastructure.
President Joe Biden recently unveiled the American Jobs Plan, a blueprint to “create millions of good jobs, rebuild our country’s infrastructure, and position the United States to out-compete China.”
The proposal outlines a $2.25 trillion investment over eight years to repair our roads, bridges, and dams; modernize public transit and airports; expand broadband access; ensure safe drinking water in all communities; upgrade housing, businesses, schools, hospitals, and other buildings; and build resilience to climate change. To offset the cost, the plan would also amend the corporate tax code.
USDA Secretary Tom Vilsack said ...
In a statement, NFU President Rob Larew expressed encouragement about the plan ...
White House moves to reshape role of US capitalism
By Jonathan Easley,Brett Samuels and Amie Parnes, The Hill
The White House is pushing an infrastructure bill that could reshape the discussion around capitalism as it seems to reestablish the federal government as a primary driver of how the economy should grow and function.
In addition to traditional infrastructure projects, Biden’s $2.25 trillion American Jobs Plan would make government investments in broadband, electric vehicles, climate change, elderly care, child benefits, housing and developing future technologies.
It would redefine classic infrastructure projects to include investments in workers and families paid for by tax hikes on corporations.
The ambitious proposal effectively transforms the relationship between the government and the private sector, making radical changes to key sectors of the economy that could be felt for years down the road.
It places a big bet on the ability of the federal government to drive sustained economic growth at a time when confidence in institutions is low...
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Behind Biden’s Big Plans: Belief That Government Can Drive Growth
Multitrillion-dollar spending program would reverse Reagan-era tacit understanding that public sector is less efficient than the private in allocating resources
By Jacob M. Schlessinger and Andrew Restuccia, The Wall Street Journal (WSJ)
March 30, 2021
WASHINGTON—President Biden envisions long-term federal spending claiming its biggest share of the American economy in decades. He wants to pay for that program in part by charging the highest-earning Americans the biggest tax rates they’ve faced in years.
The Biden economic team’s ambitions go beyond size to scope. The centerpiece of their program—a multitrillion-dollar proposal to be rolled out starting Wednesday, less than a month after a $1.9 trillion stimulus—seeks to give Washington a new commercial role in matters ranging from charging stations for electric vehicles to child care, and more responsibility for underwriting education, incomes and higher-paying jobs.
The administration has also laid the groundwork for regulations aimed at empowering labor unions, restricting big businesses from dominating their markets and prodding banks to lend more to minorities and less for fossil-fuel projects. All while federal debt is currently at a level not seen since World War II.
It all marks a major turning point for economic policy. The gamble underlying the agenda is a belief that government can be a primary driver for growth. It’s an attempt to recalibrate assumptions that have shaped economic policy of both parties since the 1980s: that the public sector is inherently less efficient than the private, and bureaucrats should generally defer to markets.
The administration’s sweeping plans reflect a calculation that “the risk of doing too little outweighs the risk of doing too much,” said White House National Economic Council Director Brian Deese. “We’re going to be unapologetic about that,” he said. “Government must be a powerful force for good in the lives of Americans.”
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