Where is the money going and where is it coming from?
President Biden says his proposal for an aggressive series of infrastructure investments would require $2.3 trillion in spending over eight years but could create millions of jobs. It would be funded by higher corporate taxes. A closer look at where the money is going and where it’s coming from: • $115 billion to modernize the bridges, highways and roads that are in the worst shape. The White House outline estimated 20,000 miles (32,187 kilometers) of roadways would be repaired, while economically significant bridges and 10,000 smaller bridges would get fixed. • $85 billion for public transit, doubling the federal government’s commitment in an effort to shorten the repair backlog and expand service. • $80 billion to modernize Amtrak’s heavily trafficked Northeast Corridor line, address its repair backlog and improve freight rail. • $174 billion to build 500,000 electric vehicle charging stations, electrify 20% of school buses and electrify the federal fleet, including U.S. Postal Service vehicles. • $25 billion to upgrade air travel and airports and $17 billion for waterways and coastal ports. • $20 billion to redress communities whose neighborhoods — typically nonwhite — were divided by highway projects.
