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On March 31, 2021, President Joe Biden unveiled the American
Jobs Plan (the Plan ), an eight-year, $2 trillion
investment to modernize and improve U.S. infrastructure, generate
jobs and economic growth, and promote American national security
interests. The proposed framework is a key step towards President
Biden s goal of enacting his Build Back Better plan, including
investments to modernize highways and railways, upgrade ports,
expand electric vehicle (EV) infrastructure, upgrade water and
energy infrastructure and expand broadband access. Alongside the
American Jobs Plan, President Biden also proposed the Made in
President Biden s American Jobs Plan: A Bold Mandate for Infrastructure Investment | Akin Gump Strauss Hauer & Feld LLP
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April 2, 2021
On March 31, 2021, President Biden announced the American Jobs Plan, a sweeping proposal that dedicates over $2 trillion to create jobs through repairing and upgrading infrastructure, revitalizing manufacturing, and valuing the caregiving economy.
Q1: What has Biden announced and how big is it in context?
A1: The American Jobs Plan is the second plank of Biden’s “Build Back Better” agenda to both “rescue” the economy from the Covid-19 recession and “recover” in a way that addresses underlying structural constraints and takes advantage of future economic opportunities. The first component, the $1.9 trillion American Rescue Plan, passed earlier in March.
Broadly, the American Jobs Plan can be divided into four buckets (see chart below). The largest is spending on buildings, schools, and aged care. Transportation infrastructure is the second-largest bucket, notable for the $174 billion it proposes to spend on electric vehicles (EVs). Various investments i