What’s in Biden’s Infrastructure Plan?
How the $2 trillion in proposed spending breaks down.
How the $2 trillion in proposed spending breaks down.
(Wed, 31 Mar 2021) The U.S. Energy Information Administration release showing national monthly biofuels operable production capacity.
(Wed, 31 Mar 2021) <p>U.S. manufacturing is becoming more fuel-efficient and less labor-intensive since 1998. Manufacturing gross output grew by 12% while fuel consumption decreased by 16%. Labor productivity—measured as gross output divided by the number of employees—also improved by 62% in the same period. In addition, fuel intensity—measured as fuel consumption divided by gross output—decreased by 25% from 3.2 quadrillion British thermal units per billion dollars in 1998 to 2.4 quadrillion British thermal units per billion dollars in 2018.</p>
The president will propose using the revenue from increasing corporate taxes to pay for eight years of ambitious spending on roads, bridges, utilities and other needs.
In the face of enormous challenges — from the coronavirus pandemic and its economic fallout to climate change — the current president is outpacing the last two in early spending plans.
House Democrats face hurdles to pushing through the president’s big spending plans, including Republican opposition and resistance from their own ranks.
The establishment has been routed, but its economic orthodoxy rules.
Critics say HS2, a $140 billion project sold as a green alternative to planes and cars, makes less sense than ever in a world where people work from home.
The president’s infrastructure proposals are likely to require trillions of dollars in new tax revenue. They also give liberals a chance to address what they call the failures of Republican tax cuts.
It’s not the old days. The G.O.P. is not your friend, Mr. President.