On March 31, President Biden provided details to a $2 trillion infrastructure and jobs package. The American Jobs Plan represents the first half of the Administration’s effort to significantly overhaul the U.S. infrastructure apparatus and rejuvenate workforce opportunities. White House officials say the bill would provide spending over an eight-year timeline while requiring fifteen years to offset the cost of the spending programs.
The plan includes:
- $621B for transportation
- $400B for home care services and workforce
- $300B for manufacturing
- $213B for housing
- $111B for water infrastructure
- $100B for schools
Congressional Democrats could potentially be aiming to pass the bill over the summer, legislative efforts are expected to begin in the coming weeks but no official deadlines have been made clear. GFOA will continue to monitor and report any developments as they occur.