American Recovery and Reinvestment Act fact sheet is now published: punchbowl.news/…
There is a lot to unpack there, but the basic points are as follows.
- Paid for by reducing corporate tax avoidance and raising rate from 21% to 28% over 15 years
- Note that the income comes in over 15 years, but the money is spent over 10 years.
- $2 Trillion in spending over 10 years
- Repair roads and bridges, working through maintenance backlog and upgrades.
- Upgrade rail.
- Provide $80 Billion in dedicated funding for Amtrak, pay down maintenance and upgrade backlogs, and expand service to new areas by adding new lines and stations.
- Double federal funding level for rail mass transit generally.
- EV upgrades
- $171 billion to expand EV adoption and manufacturing in the US.
- Replace all remaining lead pipes in the US.
- Upgrade all drinking water, stormwater, wastewater systems to new environmental and safety standards
- Expand brodband
- It looks like this will require fiber to the home for all new installs, but not completely clear.
- Clean up abandoned wells and mines.
- Build and retrofit buildings.
- Provide grants to jurisdictions that eliminate exclusionary zoning laws (this is a big one if it works. Eliminating these zoning rules would essentially eliminate the housing affordability crisis by allowing high density construction in areas well served by mass transit)
- Build and renovate schools and hospitals.
- Upgrade research and industry with dedicated funding for advanced research, and dedicated funding to build out strategically important industrial supply chains.
There is a lot more, and you should read the actual release (it’s about 25 pages), but that’s the basic counters.