According to the plan, around 1.0 percent of the United States GDP per year will be invested to boost manufacturing, science research and real estate development. In total, that amounts to roughly 2.0 trillion dollars over the course of 10 years.
United States President Joe Biden said on Wednesday that his economic plan was created with the aim of rewarding "work, not just wealth."
Speaking in Pittsburgh, Pennsylvania, Biden claimed that his plan will help the US make "the strongest, most resilient, innovative economy in the world." He described the plan as a "once in a generation investment" and "the largest" one "since Word War II." It consists of two parts - the American Jobs Plan and the American Families Plan, he also revealed, adding that the second part of the plan will be released in "a few weeks."
Biden stated the plan would "modernize transportation infrastructure" among other goals and make the US "competitive" economically.
"Like great projects of the past, the President's plan will unify and mobilize the country to meet the great challenges of our time: the climate crisis and the ambitions of an autocratic China. The plan targets 40 percent of the benefits of climate and clean infrastructure investments to disadvantaged communities," the official statement said.
The plan also highlights the importance of investing in infrastructure and gives a glimpse of President Joe Biden's goals in the infrastructure bill that he will give a speech about later in the day. There will be "an additional [investment of] $621 billion in transportation infrastructure and resilience".