A group of five Republican senators unveiled a five-year, $568 billion infrastructure investment framework on April 22. The plan was developed to serve as an alternative to the $2.3 trillion American Jobs Plan proposed by President Biden on March 31.
According to a report in AASHTO Journal, the breakdown of the infrastructure funding within the Republican plan includes:
- Roads and bridges – $299 billion
- Public transit systems – $61 billion
- Rail – $20 billion
- Safety – $13 billion
- Drinking water and wastewater infrastructure – $35 billion
- Inland waterways and ports – $17 billion
- Airports – $44 billion
- Broadband infrastructure funding – $65 billion
- Water storage – $14 billion
The senators said that four key “goals” lay at the heart of their plan: boosting economic growth, improving global competitiveness, and creating jobs; improving the quality of life for all Americans; strengthening national security and continuing to improve safety; bolstering infrastructure while protecting the environment.
According to the article, the plan would also preserve the provisions of the 2017 Tax Cuts and Jobs Act, which set the corporate tax rate at 21 percent. It also proposes levying user fees on electric vehicles to replace reductions in fuel tax revenue.
The plan would also “repurpose” unused federal spending allocated by the $1.9 trillion American Rescue Plan to cover the proposed infrastructure investments.
Jim Tymon, executive director of the American Association of State Highway and Transportation Officials, said in a statement that AASHTO has “long called for a bipartisan approach” to address the nation’s transportation and infrastructure needs.
“Senate Republicans have put forward a proposal that recognizes the value of using proven existing programs and increasing funding for infrastructure over current levels. But this is only one further step in the process,” he said.
Source: AASHTO
