A sweeping White House effort to inject more than $600 billion into transportation infrastructure would transform the federal government’s role in transportation, addressing mobility, climate and equity concerns.
The transportation-related measures are part of a $2 trillion jobs and infrastructure plan Biden unveiled Wednesday to address damaged bridges, unequal broadband access, climate change and care for people with disabilities. The American Jobs Plan would be paid for, in part, by raising the corporate tax rate and global minimum tax.
According to the White House, proceeds from the corporate tax hikes would raise:
— $115 billion to rebuild bridges and highways, cut emissions and reduce congestion
— $20 billion to reduce traffic fatalities, focusing on walkers and bikers
— $85 billion to boost transit and stretch rail and bus lines to new places, doubling federal dollars
— $80 billion to boost Amtrak, expand intercity rail and upgrade the Northeast Corridor and other routes
— $174 billion “to win the EV (electric vehicle) market” with refurbished factories, incentives, 500,000 chargers, electric buses and mail trucks
— $25 billion to fix airports, upgrade safety facilities and make it easier to reach terminals without a car
— $17 billion to lessen pollution near ports, and improve waterways, freight movement and ferries
— $20 billion to reconnect communities torn by highway construction and advance racial equity in new projects
— $25 billion to spur ambitious projects seen as too complex or overwhelming for current funding programs
— $50 billion to improve infrastructure and community resilience, including with health, food and transportation services such as roads and rail
Source: American Jobs Plan, White House