President Joe Biden lays out plans for net-zero carbon emissions by 2050
President Joe Biden reveals a massive $2 trillion infrastructure plan that will help rebuild the American economy focusing on addressing climate change. President Biden’s plan will invest in boosting the electric vehicle market, updating the country’s power grid, replacing all lead pipes for an updated clean water system, and more.
President Biden has unveiled his ambitious plan to rebuild America's infrastructure. Some key details:
• Price tag: $2.3 trillion
• Time span: Spending would roll out over eight years
• How it's paid for: Largely, by sharply higher corporate taxeshttps://t.co/sBcoSO2JW0
— The Associated Press (@AP) March 31, 2021
The measure in the plan known as American Jobs Plan will dedicate a $174 billion investment in boosting the electrical vehicle market that will help shift away from reliance on gas-powered vehicles. Initiatives of this progressive plan have the goal of installing 500,000 charging stations across the U.S. by 2030 while offering Americans incentives to encourage drivers to move to the EV market.
President Biden’s plan will support the EV market with funding to help retool the factories and boost the domestic supply of materials to be less reliant on imports. To support the American EV industry, Biden’s plan will be to fund an update for the country’s electric power grid.
President Biden said his $2 trillion infrastructure plan would be paid for in 15 years by raising taxes on corporations — and vowed no one making less than $400,000 a year would see their taxes increased.https://t.co/pxAeBqJA3t
— NPR (@NPR) April 1, 2021
The trillion-dollar infrastructure plan commits $100 billion in funding for updating the country’s electric grid to be more resilient to worsening climate disasters. The upgraded power grid will prevent loss of power through harsh weather conditions such as the recent winter storm in Texas resulting in widespread blackouts.
President Biden is advocating for clean energy and clean water with a plan to ensure safe drinking water across America. The infrastructure plan proposes replacing lead pipes to update water systems ensuring safe drinking water for all.
The climate measures in Biden’s new American Jobs Plan add up to more than $1 trillion over eight years — larger than the total recovery package Obama passed to tackle the Great Recession. https://t.co/AUZiPpg0pZ
— Vox (@voxdotcom) March 31, 2021
President Biden is also proposing a new “Energy Efficiency and Clean Electricity Standard” mandate requiring a portion of U.S. electricity from zero-carbon sources including solar and wind power. The plan also calls on Congress to invest $35 billion into development for technologies that will mitigate climate change while creating new jobs in the fields of carbon capture/storage, electric vehicles, hydrogen, and offshore wind.
This plan would rank as one of the largest federal efforts to curb the country’s greenhouse gas emissions if approved and is a part of the Biden administration’s commitment to transforming the U.S. to net-zero carbon emissions by 2050.
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