President Biden on March 31 released the first phase of his “Build Back Better” proposal, the “American Jobs Plan,” focusing on the infrastructure components of the White House’s recovery efforts as well as addressing climate change and job creation. The package includes $2.3 trillion in spending over eight years with a $621 billion investment in transportation and the resiliency of our infrastructure. Specifically, the proposal provides $115 billion for bridge, highway, and road investments. This is intended to be in addition to a surface transportation bill. Currently there have been no details provided on the federal share of project costs.
The Administration is also releasing a “Made in America Tax Plan.” The proposal includes an increase in the corporate tax rate to 28 percent and measures designed to prevent offshoring of profits to fund the infrastructure spending, according to the White House. Republicans reduced the corporate tax rate to 21 percent from 35 percent as part of their 2017 tax law.
NATSO members can read the NATSO Analysis prepared in advance of the President’s release of the Administration’s proposal.
NATSO Statement on Biden Administration’s Infrastructure Proposal
NATSO President and CEO Lisa Mullings issued a statement to media following the announcement stating that NATSO is encouraged by the Biden Administration’s commitment to the nation’s immediate and long-term infrastructure needs as outlined in today’s proposal.
“NATSO is pleased to see that the Administration’s plan did not incorporate tolling existing interstates and commercializing rest areas, which would harm off-highway businesses and highway users. But policymakers should seek self-sustaining infrastructure funding mechanisms, such as increasing the motor fuels taxes or a vehicle-miles traveled tax, rather than imposing corporate tax increases, which will hinder the economic recovery of businesses that have yet to emerge from the pandemic.
NATSO also said in its statement that its member locations are eager to work with the Administration to advance its infrastructure objectives, including building a reliable and safe nationwide network of electric vehicle charging stations. Any effort to develop a nationwide network of charging stations will only succeed if there is a clear, unambiguous policy framework that harnesses the core competencies of the utility and retail fuel sectors. There should be a very strong business case for both utilities and fuel retailers to work together to create a nationwide network of fast charging stations.
The utility sector is best suited to perform the generation development and power grid restructuring that will be needed to meet new demand, while fuel retailers are best positioned to own and operate EV charging stations and provide transportation energy to consumers.”
Read the complete statement from NATSO President and CEO Lisa Mullings here.
- Invests $621 billion into transportation infrastructure such as bridges, roads, public transit, ports, airports and electric vehicle development;
- Directs $400 billion to care for elderly and disabled Americans;
- Injects more than $300 billion into improving drinking-water infrastructure, expanding broadband access and upgrading electric grids;
- Allocates more than $300 billion into building and retrofitting affordable housing, along with constructing and upgrading schools;
- Invests $580 billion in American manufacturing, research and development and job training efforts.
- $621 billion for transportation;
- $115 billion for bridges, highways, and roads;
- $20 billion for roadway safety;
- $85 billion for transit;
- $80 billion for Amtrak;
- $174 billion – point of sale rebates and tax incentives for EV consumers and incentive programs and grants for state and local governments as well as private sector funding to build a network of chargers;
- $25 billion in airport improvements;
- $17 billion for land ports and inland waterways;
- $20 billion for a new equity program (addressing discrimination in transportation construction both historically and into the future);
- $25 billion for a dedicated fund to support ambitious projects that have tangible benefits to the regional or national economy but are too large or complex for existing funding programs;
- $50 billion for infrastructure resilience.
Biden’s “Build Back Better” proposal is expected to be broken out into two parts. The first package focuses on traditional infrastructure projects. The second will address domestic issues such as universal pre-k, national childcare and free college tuition and is expected to be released in a few weeks.
Click here to view a fact sheet from the White House on the “American Jobs Plan.”
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