December 5, 2022

Biden signs $ 1 trillion infrastructure bill into law

He will then visit the General Motors plant in Detroit on Wednesday, highlighting funding aimed at building 500,000 electric vehicle charging stations and upgrading the country’s power grids. The cost of electric vehicles is Mr. Biden is much lower than initially proposed, but executives say it will accelerate the transition to lower emission cars and trucks.

“With this combination of investment and we know where the industry is going,” Mr. Brian Dees, chairman of Biden’s National Economic Council, said: “We hope this will be the beginning of a real change in our automotive infrastructure.”

Mr. The law was the result of intense negotiations during the first year of Biden’s presidency. Slapping on the back, The president enjoyed a government career that lasted until the 1970s. Mr. Biden first made deals with the Senate Republicans, 18 of whom eventually voted for the bill, and then made deals with the Progressive Democrats in the House, who asked him to support the larger party. Expenditure bill.

On Monday, Mr. As Biden and other speakers have noted, previous presidents have failed in their attempts to broker large-scale infrastructure deals. President Donald J. Under Trump, “Infrastructure Week” turned out to be a joke, as executives often promised to focus on the issue, followed by a series of scandals. Instead of focusing on a major tax cut passed in 2017, Mr. Trump’s group has never put serious pressure on an infrastructure bill in Congress.

Senator Rob Portman, a member of the Ohio Republican Party, led his party’s side in the infrastructure negotiations, raising the issue among Republicans. Praised Trump on Monday. Mr. Biden made no mention of it, instead of talking about how Washington could deal with discriminatory fighting when there is agreement on policy.

Mr. Although the package is smaller than Biden originally proposed, it would indicate an increase of about $ 550 billion over the current bill. Researchers at the Brookings Institution estimate that the money will halve federal infrastructure spending as part of the economy over the next five years, according to President Franklin D. Roosevelt. Under Roosevelt the new contract would be almost parallel to the infrastructure arrangements. Mr. Biden’s $ 1.85 trillion bill – they estimate that increased infrastructure spending would obscure the new deal if the bill, which includes more money to combat climate change, is passed.

That increase will challenge the government’s ability to spend money on time and efficiently. On Sunday, Mr. Biden appointed Mitch Laundreau, the former mayor of New Orleans, to oversee the implementation of the infrastructure bill.