Category: lmzhjtis

If Britain is to hit net-zero, we need the City to step up its green finance ambitions

first_img Green finance places climate concerns at the heart of financial decision-making. It allows us to mitigate risks and capture the abundant opportunities that a green future presents. Opinion The stark truth is that unprecedented climate events are happening with alarming regularity. Long gone are the days when climate change was merely a scientific assessment. Today, it is an increasingly evident reality. Some $90 trillion is needed by 2030 to realise our international climate ambitions, and we are currently only generating billions. The clock is ticking. The COP26 agenda recognises the major financial opportunity green finance presents (POOL/AFP via Getty Images) We are on the way there with our efforts. But private sector capital is a big piece of the puzzle that needs to be found for our transition to net-zero. London is already leading the way, but investors must do more. The annual UN conference, this year taking place in Glasgow, will convene global leaders to discuss the world’s most pressing issue. And as policymakers gear up for the pivotal event, it is welcome that our own government has put finance at the heart of the conference for the first time. Fortunately, the City has form in adapting to overcome the biggest challenges. A new chapter that is distinctly green needs to be added to our long history of innovation. City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. The unveiling of the COP26 Private Finance Agenda at Guildhall last week was a landmark moment for our climate change efforts as a nation. But even with the weight of Westminster behind our climate efforts, more must be done. The private sector will be crucial to mobilising the monumental amount of capital needed to achieve an orderly transition to a net-zero future.  And there is evidence of that already. The London Stock Exchange is home to 218 sustainable bonds which have raised over £40bn. Last year, London came top in the Z/Yen green finance global rankings. Conversations on green finance are happening here that simply are not taking place elsewhere. London’s talent, depth of capital markets, and scale of innovation mean that we are ahead of the game in critical products like transition bonds. Show Comments ▼ And with finance as its cornerstone, the COP26 agenda takes heed of this. The agenda recognises the major financial opportunity green finance presents, focusing minds on the potential returns: making profit and mobilising capital.  All parts of the City must play their part — whether that is through structuring transition bonds, developing new forms of insurance in an increasingly uninsurable world, or building climate-friendly investment portfolios. whatsapp The stakes have never been higher, but the City’s mission is clear: to mobilise capital with pace and at scale, financing the domestic and global transition to a net-zero future. Last week’s COP26 launch highlighted the need for a colossal undertaking of both the public and private sectors. But we know that City firms are highly engaged and ambitious for September’s event. That is why the City Corporation and Green Finance Institute are working tirelessly across government and industry to advance the role of finance in it. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterBrainSharperGwen Stefani’s Wedding Gown Turned HeadsBrainSharperDid U KnowUnsold 2020 SUVs Are Almost Being Given Away Now: See PricesDid U KnowMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen Heraldmaternityweek.comWilliam and Kate Have Been Told Their Fate Once Charles Finally Becomes Kingmaternityweek.comDefinitionThe Funniest Yard Signs EVER WrittenDefinition Catherine McGuinness Share Monday 2 March 2020 4:29 am Main image credit: Getty If Britain is to hit net-zero, we need the City to step up its green finance ambitions whatsapp More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKansas coach fired for using N-word toward Black playerthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFort Bragg soldier accused of killing another servicewoman over‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comColin Kaepernick to publish book on abolishing the policethegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.comlast_img read more

New York Governor Andrew Cuomo seeks to cap some drug prices

first_img In a provocative move, New York Governor Andrew Cuomo has become the latest entrant in the escalating war over rising drug prices with a budget provision that would effectively cap prices and require drug makers to provide a raft of information about their costs.The proposal marks yet another high-profile attempt to force the pharmaceutical industry to respond to the intensifying clamor over the cost of medicines. The issue has made its way into the presidential campaign and, next week, another in a series of congressional hearings on the topic is scheduled.Under the proposal, which must be approved by the state legislature, the state health department would “develop a list of critical prescription drugs for which there is a significant public interest in ensuring rational pricing.” The department would then assess the value of the drugs in order to set a “ceiling price” and could require a minimum rebate to the state Medicaid program.advertisement As part of the process, the administration wants companies to provide data about development, manufacturing, and marketing costs for drugs on this list. The proposal would also require drug makers to submit information about the prices charged other purchasers in the state and outside the United States, any rebates offered customers, and profit margins, among other things.[UPDATE: A Cuomo spokesman told us that the plan is expected to save $30 million in fiscal year 2016-17. Of that $6 million would come from price caps, but this is a “conservative estimate,” he told us, because “we’re talking about a limited number of drugs, and we cannot know for sure what blockbuster drugs will come on the market in the coming fiscal year.” The other $24 million would come from rebates that generic drug makers would be required to offer the state Medicaid program if prices of their medicines increase faster than inflation.]advertisement PharmalotNew York Governor Andrew Cuomo seeks to cap some drug prices New York Governor Andrew Cuomo has a budget proposal that would effectively cap prescription drug prices and require drug makers to provide a raft of information about their costs. Kathy Willens/AP @Pharmalot Tags Andrew Cuomodrug pricespharmaceutical industrypolicy By Ed Silverman Jan. 22, 2016 Reprints The plan won kudos from the New York Health Plan Association, which represents managed care insurers. “With pharmacy costs as one of the biggest drivers of health care costs overall, consumers need and deserve basic pricing information,” the trade group said in a statement.Not surprisingly, a spokeswoman for the Pharmaceutical Research and Manufacturers of America, the trade group for drug makers, wrote us that its members have “significant concerns” with the proposal, which was first reported by Politico.“Not only will implementing price controls have a very negative impact on innovation and send a signal that risk taking will not be rewarded, but also the so-called ‘transparency’ information called for in the proposals would be virtually impossible to achieve because it does not include the cost of failures inherent in the search for new treatments and cures.“Additionally, the proposals single out the biopharmaceutical industry, when in fact, there are a variety of stakeholders involved in determining what consumers ultimately have to pay for a medicine — insurers, pharmacy benefit managers, wholesalers and government agencies,” the spokeswoman wrote. “None of these parties are addressed in these proposals.” Ed Silverman Pharmalot Columnist, Senior Writer Ed covers the pharmaceutical industry. About the Author Reprints [email protected] Washington has big hopes, but little power, to negotiate drug prices Related: Nobody knows if candidates’ drug-price plans will actually work Related: The objections mirror the argument the industry trade group raised recently in California, where a bill was introduced twice over the past year to require drug makers to disclose their costs in an effort to gain more transparency into pricing decisions. Last week, though, that bill stalled again. Similar efforts in a few other states, including Oregon, North Carolina and Massachusetts, have also petered out.Other efforts are underway, however, to make it possible for state programs to obtain medicines at lower costs. In California and Ohio, consumer advocates are pushing ballot measures that would require Medicaid or prison systems, for instance, to pay no more for medicines than the US Department of Veteran Affairs. A measure will be on the California ballot, but is being challenged in Ohio.This story was updated to reflect projected savings in the next fiscal year.last_img read more

FDA drug testing doesn’t have to sacrifice safety, or animals, for speed

first_img “Slow and burdensome” is how President Donald Trump has described the Food and Drug Administration’s drug approval process. His promise to speed it up by slashing regulations raised major safety concerns among scientists, regulators, and patient groups. But speed and safety do not have to be at odds. Modern tests that are physiologically relevant to humans because they are based on human biology — not on the biology of other animals — offer scientists more predictive information more quickly. FDA should focus on evaluating these technologies and work with industry to ensure they are implemented.Dr. Scott Gottlieb, the new FDA commissioner, addressed the false dichotomy of speed versus safety in his congressional confirmation hearing. Through advances in regulatory science, he said that “we can have our cake and eat it too.” Gottlieb also said that the FDA should consider anything that can make the drug development process more predictive, such as better tools to evaluate safety and effectiveness and to bring down cost. Politics @PCRM Elizabeth Baker Log In | Learn More China Photos/Getty Images Tags drug developmentpolicyresearch By Elizabeth Baker May 11, 2017 Reprints Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! GET STARTED What’s included? Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. FDA drug testing doesn’t have to sacrifice safety, or animals, for speed What is it? About the Author Reprints [email protected] STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. GET STARTEDlast_img read more

JOB VACANCY: Clock Tower Joinery seeking to fill a number of roles

first_imgHome Jobs JOB VACANCY: Clock Tower Joinery seeking to fill a number of roles JobsSponsored Twitter Facebook Electric Picnic Twitter Facebook Electric Picnic JOB VACANCY: Clock Tower Joinery seeking to fill a number of roles Clock Tower Joinery, based near Abbeyleix, are seeking to fill the following roles for factory and site work:JoinerPaint SprayerGeneral Operative/Handy manExperience is essential.Accommodation can be provided if necessary.To ApplyContact 087 8579992 or email [email protected] ALSO – Check out the dedicated jobs section on TAGSClock Tower Joinery Council Pinterest WhatsApp Electric Picnic organisers release statement following confirmation of new festival date Pinterest Mary Sweeney elected Cathaoirleach of Portlaoise Municipal District for next 12 months RELATED ARTICLESMORE FROM AUTHOR By LaoisToday Reporter – 23rd March 2021 Electric Picnic apply to Laois County Council for new date for this year’s festival WhatsApp Previous articleLaois Abroad: Shooing kangaroos and a garden of cockatoos – meet the Abbeyleix native loving life in Central QueenslandNext articleLaois TD launches ‘Community Wealth Building Proposal’ aimed at assisting rural economic development LaoisToday Reporter last_img read more

North Korean movie smuggler tells all

first_img North Korean movie smuggler tells all SHARE North Korea tries to accelerate building of walls and fences along border with China News News RELATED ARTICLESMORE FROM AUTHOR AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] There are signs that North Korea is running into serious difficulties with its corn harvest center_img Today we continue our conversation with Lee Hyon Woo, who spoke to us last week about working as a broker assisting defectors in the escape process. Mr. Lee also traveled back and forth between China and North Korea smuggling foreign videos between 2004 and 2006. Mr. Lee will offer his testimony about foreign information distribution and crackdown efforts by the authorities. The North Korean authorities thoroughly restrict the import of foreign videos into the country. Therefore, foreign videos can only be smuggled in. I understand that you did this work while you lived in North Korea, is that correct? Yes. When I went to China for the first time, I happened to watch some South Korean satellite television. At the time, popular dramas such as “The Immortal Yi Sun-shin” and “Only You” were being broadcast. They were a lot of fun to watch. I had seen one or two South Korean movies while in the North, but that was the first time I ever saw a drama. I knew that I could make some money if I brought them to North Korea to sell. My cousin was running a video rental store at the time. He asked me if I could bring him a North Korean flick called “Nameless Heroes.” I asked him whether I should bring other content as well, and he readily agreed. I loaded up blank CDs with 40-50 South Korean movies and 2 drama series and brought them with me to North Korea. To be honest, I was thinking more about just watching them myself rather than going into business at that point.  However, I got into a conversation with a border guard who asked me if I ever thought about selling the CDs/DVDs. And with that, he bought one for 500 North Korean won.  Up until that point, CDs with South Korean content were widely available in Hyesan and Ryanggang Province, but they remained a rare find in my native North Hamgyong Province. I was helping to open up this new route. At the time, one CD was selling for 700-800 KPW in Hoeryong. But I was able to sell CDs at a lower price point, and this attracted customers. These customers weren’t just interested in watching the CDs themselves. They were buying them from me to sell to others. I realized that it would be better if I could cut out the middlemen and decided to try and sell wholesale. I bought 50 CDs of “Nameless Heroes” in Chongjin’s Sunam Market, brought them to China, and traded them for blank CDs that were loaded with South Korean movies. I chose romance movies and gangster movies that were popular at the time. Despite the authorities attempts to block the “Yellow Wind” [the influence of capitalist culture], it continues to blow strongly into the North. Action movies were also popular. I copied those types of movies onto the CDs and sold them for 500-600 KPW each. A CD loaded with a drama series sold for 400 KPW and one containing movies went for 600 KPW.    What kind of quantities were you able to bring into North Korea? If I had a lot of CDs with me, they would really weigh me down. I was able to copy approximately 40 minutes- one hour of content onto one disc. Most series have 16-20 episodes so it required a lot of CDs. Movies are long, so I divided them into sections across two discs. Altogether, it added up to about 300 CDs. I put them all in my backpack and brought it with me across the border. How did you reproduce the movies? I didn’t bring blank CDs into China. Instead, my cousin’s friend – who operated a video rental store in China – used to give me blank CDs. When he couldn’t give them to me, I bought them for a low price. I just put the films into the computer and copied them. First, my cousin did it for me, but over time, I learned how to do it. We went to illegal download sites, downloaded the movies, and put them on the CDs. So then you went into North Korea and sold/rented out the films? Yes. If I sold it to the customer, they would turn around and sell it to someone else after they had watched it. We usually didn’t rent the movies. When we tried that, we found that many people simply never returned the CDs they had rented. Renting became more of a nuisance than it was worth, so I just sold them. How did you manage to evade crackdowns by the Ministry of State Security? There were some crackdowns, but it was a bit different back then. They would sometimes go around with a detector, trying to find people using cell phones or watching television in their homes. But people used to simply draw the curtains and continue to watch. Agents once approached my house when I was watching a South Korean movie with a friend. My friend tried to switch out the CD for a North Korean one, but the agent caught him and told him to freeze. In the end, we gave them a glass of alcohol and they left us alone. That wasn’t the only time. There were many occasions when I bribed the agents to look the other way with packs of cigarettes.  I heard that you once watched South Korean media with the child of Chongjin City’s head of State Security. Yes, that’s true. My older sister married the son of the State Security Chief in Chongjin. One day, he came over and said, “Wanna watch a South Korean movie or something?” We kept the curtain closed and watched one together. The name of the movie was “Scent of a Man.” When I arrived in South Korea, I learned that the actor in the lead role was Kim Song Woo. It was such a cool film. The hero sacrificed his life in order to protect his younger sibling. Of course, while I was watching it, I got paranoid because of the stature of the person I was with. But I doubted that the father would do anything that would put his own son at risk, so I just watched it. My brother-in-law told me that the CD was repossessed property. I don’t know whether the resident it was taken from got sent to a political prison camp or not. In any case, it was really strange because the same people who are telling residents not to watch foreign media are themselves committing that very crime.        What did you think after seeing South Korean films?It made me want to see more. I always wanted to watch the same movie over again and watch other things as well. You said earlier that you copied movies in China and sold them in North Korea. Does this mean you went back to China every time you ran out of stock?Yes. After I sold all of the CDs in North Korea, I went to China again. Of course, sometimes I went to China doing other types of work. But when I returned, I always had a backpack full of CDs to sell. Was it impossible to make copies of the films inside North Korea?Yes. The computers back then were really low quality and I didn’t know how to go about it. What happens to people who get caught selling or watching foreign media? I have a painful memory related to the topic. My hometown is Chongjin City, which is located in North Hamgyong Province. My paternal uncle lived in Kilju, so I used to go there to play quite often. I met a girlfriend in Kilju, as well as many friends. Kilju already had access to foreign films then, but at one point, the supply line to Kilju stopped so I stepped in to fill the demand. I had friends in town who were involved in the same business. So we worked together and sold CDs in town. I was the wholesaler and they were the retailers. I had one friend who was stockpiling the CDs. Like other countries, the North Korean economy has fluctuations. My friend had neatly stacked hundreds of CDs and was waiting for the right sale at the right time. Unfortunately, this was also the time that Kim Jong Il ordered the authorities to execute anyone involved in distributing or watching South Korean media. The authorities were trying to make examples out of the offenders. I thought it was a good idea to stay out of sight, so I went to China to lay low. Suddenly, I got word from my friends. The friend who had stacked up his CDs was caught by the Ministry of State Security. 15 days had passed since he was apprehended, and it didn’t look like he was going to be released.     My friends advised me to stay in China. But how could I do that? We were a group of seven friends. We often drank together. We cursed Kim Jong Il and talked about our struggles. So, it was hard to stay put when my friend was in trouble. We all had the urge to protect each other. I decided to go back into North Korea. I tried to contact my friend’s parents indirectly, but they were under house arrest and no one was allowed to meet with them. After about ten days of this, we got a notification. We were all told to gather at the market. I had an intuition that a public execution would be conducted. Since the authorities hadn’t conducted an investigation or contacted anyone about my friend’s case, I thought it unlikely that he was sent to a political prison camp or a reeducation center. All he had done was stack up a few hundred CDs. I hardly thought that deserved an execution. We weren’t even able to gather up money and bribe him out of there. That’s because the execution order had come down from Kim Jong Il.  I remember the day of my friend’s execution quite clearly. It was July 1, 2005. They conducted a People’s Court on the riverbank of a market in Kilju. There were three people being tried, including my friend. Two of the accused were executed on the spot. But execution isn’t a short process in North Korea. The authorities torture the accused and force them to admit to their wrongdoings first, pretending as if they will offer clemency in exchange for a confession. Then, after some time, they say, “We execute you in the name of the people,” and just shoot them. A child of one of those executed fainted when they saw their parent die. Our friend was an only child, and when we saw him die, we starting bawling, but we couldn’t make a sound. When I made eye contact with my friend before it happened, he smiled at me dimly. Even today, when I remember that, my hair stands on end. I was too young at the time to really comprehend death. I just had to bite my lip, cover my eyes, and witness his execution. He was only 70 meters away from me. I was 25 years old then.  Why do you think that residents continue to watch foreign media even after witnessing horrible punishments? I think it’s because it gives people the opportunity to learn something new. It was fascinating to see characters roam around freely, and to learn about new places like South Korea. In North Korea, the films are designed to foster loyalty for the leadership, but South Korean movies cover topics like true love. Also, watching gangster flicks teaches us just how important it is to obey the law. Other films show characters standing up to unreasonable people and governments. These films show us a new world. That is why people young and old are willing to risk their lives to view these films. Why do you think the authorities punish people who watch foreign content so severely? Merely watching these things doesn’t entail actually interacting with the international community. The authorities need to maintain control over all elements of society to keep the dictatorship in power. The thing that the authorities are most afraid of is the yellow wind. There are even songs advising the residents not to get swept up in it. Even if the country reforms and opens up, the people will not get any additional leverage. The North Korean regime views foreign USBs, CDs, and radio broadcasts as mortal threats of the highest danger. If the regime has to murder a million residents to prevent foreign information from spreading, they will do so. Despite this, the distribution of South Korean content in the North is already provoking social changes. North Korea will be democratized. People are still waiting for a pivot point, but at some point the cultural influence is going to reach a critical mass and democratization will come about.   Freedom of expression also includes freedom of access to information. The North Korean authorities have placed an absolute ban on foreign media. All people have an inherent right to access outside information and freely express themselves.  By Daily NK – 2017.05.18 3:33pm Facebook Twitter News Entire border patrol unit in North Hamgyong Province placed into quarantine following “paratyphoid” outbreak News last_img read more

House Passes Act to Repeal Public Gardens Law

first_imgRelatedHouse Passes Act to Repeal Public Gardens Law House Passes Act to Repeal Public Gardens Law UncategorizedNovember 22, 2006 RelatedHouse Passes Act to Repeal Public Gardens Law RelatedHouse Passes Act to Repeal Public Gardens Lawcenter_img Advertisements FacebookTwitterWhatsAppEmail The House of Representatives yesterday (Nov. 21) passed an Act to Repeal the Public Gardens Regulation Act of 1899, to among other things, increase the fines for breaches of the law.Minister of Agriculture and Lands, Hon. Roger Clarke, in outlining the amendments to the legislation, which governs the use of public parks and zoos, explained that, “although the Act was amended in 1968 and 1969, the amendments were not far reaching and do not begin to contemplate the dynamism required to conserve, manage and maintain these national treasures”.Mr. Clarke said it was necessary to increase the maximum fines from $10 to $250,000 and stated that he could, at his discretion, increase the penalties laid out in the new Act.Some of the new provisions are geared towards enforcement. “Specific offences are now created to deal with situations such as the destruction of trees, flowerbeds or shrubs or unauthorized acts such as picking fruits, plants or flowers or selling goods [in the parks],” Mr. Clarke explained.“The Act deals with seizure and impounding. A constable or police officer stationed at a public garden may seize any stray animal trespassing thereon and be, with all reasonable dispatch, and not later than 48 hours after such seizure, transport the animal to the nearest pound,” he said.Minister Clarke said that the unlawful destruction of park property, including injury to zoo animals, would attract conviction in a Resident Magistrate (RM) Court for a fine not exceeding $250,000 or a maximum of three months imprisonment.Speaking further, Minister Clarke stated that “any constable stationed in a public garden or zoo may take into custody without any warrant, any person who in the public garden and in the view of such constable, acts in contravention of this act or any regulations made there under”.In the meantime, Minister Clarke pointed out that there would be a no-nonsense approach towards the enforcement of park and zoo regulations, and offenders were expected to cooperate with the lawmen who will be placed in the parks.“Any such person, who when required by a constable to give his name address, gives a false name and a false address, commits an offence and is liable on summary conviction to a fine not exceeding $20,000 or to imprisonment to a term not exceeding three months,” the Minister informed.“Of particular note” he said, “is the establishment of a post of Superintendent of Gardens. The Superintendent has the right to delegate or assign his functions under the Act and designate any area within a public garden for specific activities”.The Superintendent, he said, could enter into contractual arrangements with persons and organisations in relation to recreational activities and host prescribed public ceremonies.Furthermore, the Minister said it was necessary to obtain the written permission from the Superintendent to reside, camp, erect huts or booths (whether fixed or movable) on or reap fruits from public parks.Failing to do this the offender is liable to serve three months in prison or pay a maximum fine of $250,000 in a RM Court. The legislation was originally passed in 1899.last_img read more

FACT SHEET: American Jobs Plan

first_imgFACT SHEET: American Jobs Plan The White HouseWhile the American Rescue Plan is changing the course of the pandemic and delivering relief for working families, this is no time to build back to the way things were. This is the moment to reimagine and rebuild a new economy. The American Jobs Plan is an investment in America that will create millions of good jobs, rebuild our country’s infrastructure, and position the United States to out-compete China. Public domestic investment as a share of the economy has fallen by more than 40 percent since the 1960s. The American Jobs Plan will invest in America in a way we have not invested since we built the interstate highways and won the Space Race.The United States of America is the wealthiest country in the world, yet we rank 13th when it comes to the overall quality of our infrastructure. After decades of disinvestment, our roads, bridges, and water systems are crumbling. Our electric grid is vulnerable to catastrophic outages. Too many lack access to affordable, high-speed Internet and to quality housing. The past year has led to job losses and threatened economic security, eroding more than 30 years of progress in women’s labor force participation. It has unmasked the fragility of our caregiving infrastructure. And, our nation is falling behind its biggest competitors on research and development (R&D), manufacturing, and training. It has never been more important for us to invest in strengthening our infrastructure and competitiveness, and in creating the good-paying, union jobs of the future.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. It will invest in Americans and deliver the jobs and opportunities they deserve. But unlike past major investments, the plan prioritizes addressing long-standing and persistent racial injustice. The plan targets 40 percent of the benefits of climate and clean infrastructure investments to disadvantaged communities. And, the plan invests in rural communities and communities impacted by the market-based transition to clean energy. Specifically, President Biden’s plan will:Fix highways, rebuild bridges, upgrade ports, airports and transit systems. The President’s plan will modernize 20,000 miles of highways, roads, and main-streets. It will fix the ten most economically significant bridges in the country in need of reconstruction. It also will repair the worst 10,000 smaller bridges, providing critical linkages to communities. And, it will replace thousands of buses and rail cars, repair hundreds of stations, renew airports, and expand transit and rail into new communities.Deliver clean drinking water, a renewed electric grid, and high-speed broadband to all Americans. President Biden’s plan will eliminate all lead pipes and service lines in our drinking water systems, improving the health of our country’s children and communities of color. It will put hundreds of thousands of people to work laying thousands of miles of transmission lines and capping hundreds of thousands of orphan oil and gas wells and abandoned mines. And, it will bring affordable, reliable, high-speed broadband to every American, including the more than 35 percent of rural Americans who lack access to broadband at minimally acceptable speeds.Build, preserve, and retrofit more than two million homes and commercial buildings, modernize our nation’s schools and child care facilities, and upgrade veterans’ hospitals and federal buildings. President Biden’s plan will create good jobs building, rehabilitating, and retrofitting affordable, accessible, energy efficient, and resilient housing, commercial buildings, schools, and child care facilities all over the country, while also vastly improving our nation’s federal facilities, especially those that serve veterans.Solidify the infrastructure of our care economy by creating jobs and raising wages and benefits for essential home care workers. These workers – the majority of whom are women of color – have been underpaid and undervalued for too long. The President’s plan makes substantial investments in the infrastructure of our care economy, starting by creating new and better jobs for caregiving workers. His plan will provide home and community-based care for individuals who otherwise would need to wait as many as five years to get the services they badly need.Revitalize manufacturing, secure U.S. supply chains, invest in R&D, and train Americans for the jobs of the future. President Biden’s plan will ensure that the best, diverse minds in America are put to work creating the innovations of the future while creating hundreds of thousands of quality jobs today. Our workers will build and make things in every part of America, and they will be trained for well-paying, middle-class jobs.Create good-quality jobs that pay prevailing wages in safe and healthy workplaces while ensuring workers have a free and fair choice to organize, join a union, and bargain collectively with their employers. By ensuring that American taxpayers’ dollars benefit working families and their communities, and not multinational corporations or foreign governments, the plan will require that goods and materials are made in America and shipped on U.S.-flag, U.S.-crewed vessels. The plan also will ensure that Americans who have endured systemic discrimination and exclusion for generations finally have a fair shot at obtaining good paying jobs and being part of a union.Alongside his American Jobs Plan, President Biden is releasing a Made in America Tax Plan to make sure corporations pay their fair share in taxes and encourage job creation at home. A recent study found that 91 Fortune 500 companies paid $0 in federal taxes on U.S. income in 2018. Another study found that the average corporation paid just 8 percent in taxes. President Biden believes that profitable corporations should not be able to get away with paying little or no tax by shifting jobs and profits overseas. President Biden’s plan will reward investment at home, stop profit shifting, and ensure other nations won’t gain a competitive edge by becoming tax havens.The President’s American Jobs Plan is a historic public investment – consisting principally of one-time capital investments in our nation’s productivity and long-term growth. It will invest about 1 percent of GDP per year over eight years to upgrade our nation’s infrastructure, revitalize manufacturing, invest in basic research and science, shore up supply chains, and solidify our care infrastructure. These are investments that leading economists agree will give Americans good jobs now and will pay off for future generations by leaving the country more competitive and our communities stronger. In total, the plan will invest about $2 trillion this decade. If passed alongside President Biden’s Made in America corporate tax plan, it will be fully paid for within the next 15 years and reduce deficits in the years after.BUILD WORLD-CLASS TRANSPORTATION INFRASTRUCTURE: FIX HIGHWAYS, REBUILD BRIDGES, AND UPGRADE PORTS, AIRPORTS AND TRANSIT SYSTEMSPresident Biden is calling on Congress to make a historic and overdue investment in our roads, bridges, rail, ports, airports, and transit systems. The President’s plan will ensure that these investments produce good-quality jobs with strong labor standards, prevailing wages, and a free and fair choice to join a union and bargain collectively. These investments will advance racial equity by providing better jobs and better transportation options to underserved communities. These investments also will extend opportunities to small businesses to participate in the design, construction, and manufacturing of new infrastructure and component parts. President Biden’s plan will deliver infrastructure Americans can trust, because it will be resilient to floods, fires, storms, and other threats, and not fragile in the face of these increasing risks. President Biden is calling on Congress to:Transform our crumbling transportation infrastructure:Decades of declining public investment has left our roads, bridges, rail, and transit systems in poor condition, with a trillion-dollar backlog of needed repairs. More than 35,000 people die in traffic crashes on U.S. roads each year, and millions more are seriously and often permanently injured. The United States has one of the highest traffic fatality rates in the industrialized world, double the rate in Canada and quadruple that in Europe. Across cities, suburbs, and rural areas, President Biden’s plan will help parents get to work reliably and affordably, reduce the impacts of climate change for our kids, and make sure fewer families mourn the loss of a loved one to road crashes. His investments will use more sustainable and innovative materials, including cleaner steel and cement, and component parts Made in America and shipped on U.S.-flag vessels with American crews under U.S. laws. And, his infrastructure investments will mitigate socio-economic disparities, advance racial equity, and promote affordable access to opportunity.The President’s plan invests an additional $621 billion in transportation infrastructure and resilience. It will:Repair American roads and bridges. One in five miles, or 173,000 total miles, of our highways and major roads are in poor condition, as well as 45,000 bridges. Delays caused by traffic congestion alone cost over $160 billion per year, and motorists are forced to pay over $1,000 every year in wasted time and fuel. The President is proposing a total increase of $115 billion to modernize the bridges, highways, roads, and main streets that are in most critical need of repair. This includes funding to improve air quality, limit greenhouse gas emissions, and reduce congestion. His plan will modernize 20,000 miles of highways, roads, and main streets, not only “fixing them first” but “fixing them right,” with safety, resilience, and all users in mind. It will fix the most economically significant large bridges in the country in need of reconstruction, and it will repair the worst 10,000 smaller bridges, including bridges that provide critical connections to rural and tribal communities. The plan includes $20 billion to improve road safety for all users, including increases to existing safety programs and a new Safe Streets for All program to fund state and local “vision zero” plans and other improvements to reduce crashes and fatalities, especially for cyclists and pedestrians.Modernize public transit. Households that take public transportation to work have twice the commute time, and households of color are twice as likely to take public transportation. Our current transit infrastructure is inadequate – the Department of Transportation estimates a repair backlog of over $105 billion, representing more than 24,000 buses, 5,000 rail cars, 200 stations, and thousands of miles of track, signals, and power systems in need of replacement. This translates to service delays and disruptions that leave riders stranded and discourage transit use. President Biden is calling on Congress to invest $85 billion to modernize existing transit and help agencies expand their systems to meet rider demand. This investment will double federal funding for public transit, spend down the repair backlog, and bring bus, bus rapid transit, and rail service to communities and neighborhoods across the country. It will ultimately reduce traffic congestion for everyone.Invest in reliable passenger and freight rail service. The nation’s rail networks have the potential to offer safe, reliable, efficient, and climate-friendly alternatives for moving people and freight. However, unlike highways and transit, rail lacks a multi-year funding stream to address deferred maintenance, enhance existing corridors, and build new lines in high-potential locations. There are currently projects just waiting to be funded that will give millions more Americans reliable and fast inter-city train service. President Biden is calling on Congress to invest $80 billion to address Amtrak’s repair backlog; modernize the high traffic Northeast Corridor; improve existing corridors and connect new city pairs; and enhance grant and loan programs that support passenger and freight rail safety, efficiency, and electrification.Create good jobs electrifying vehicles. U.S. market share of plug-in electric vehicle (EV) sales is only one-third the size of the Chinese EV market. The President believes that must change. He is proposing a $174 billion investment to win the EV market. His plan will enable automakers to spur domestic supply chains from raw materials to parts, retool factories to compete globally, and support American workers to make batteries and EVs. It will give consumers point of sale rebates and tax incentives to buy American-made EVs, while ensuring that these vehicles are affordable for all families and manufactured by workers with good jobs. It will establish grant and incentive programs for state and local governments and the private sector to build a national network of 500,000 EV chargers by 2030, while promoting strong labor, training, and installation standards. His plan also will replace 50,000 diesel transit vehicles and electrify at least 20 percent of our yellow school bus fleet through a new Clean Buses for Kids Program at the Environmental Protection Agency, with support from the Department of Energy. These investments will set us on a path to 100 percent clean buses, while ensuring that the American workforce is trained to operate and maintain this 21st century infrastructure. Finally, it will utilize the vast tools of federal procurement to electrify the federal fleet, including the United States Postal Service.Improve ports, waterways, and airports. The United States built modern aviation, but our airports lag far behind our competitors. According to some rankings, no U.S. airports rank in the top 25 of airports worldwide. Our ports and waterways need repair and reimagination too. President Biden is calling on Congress to invest $25 billion in our airports, including funding for the Airport Improvement Program, upgrades to FAA assets that ensure safe and efficient air travel, and a new program to support terminal renovations and multimodal connections for affordable, convenient, car-free access to air travel. President Biden is calling on Congress to invest an additional $17 billion in inland waterways, coastal ports, land ports of entry, and ferries, which are all essential to our nation’s freight. This includes a Healthy Ports program to mitigate the cumulative impacts of air pollution on neighborhoods near ports, often communities of color. These investments will position the United States as a global leader in clean freight and aviation.Redress historic inequities and build the future of transportation infrastructure. The President’s plan for transportation is not just ambitious in scale, it is designed with equity in mind and to set up America for the future. Too often, past transportation investments divided communities – like the Claiborne Expressway in New Orleans or I-81 in Syracuse – or it left out the people most in need of affordable transportation options. The President’s plan includes $20 billion for a new program that will reconnect neighborhoods cut off by historic investments and ensure new projects increase opportunity, advance racial equity and environmental justice, and promote affordable access. The President’s plan will inspire basic research, like advanced pavements that recycle carbon dioxide, and “future proof” investments that will last decades to leave coming generations with a safe, equitable, and sustainable transportation system. And, the President’s plan will accelerate transformative investments, from pre-development through construction, turning “shovel worthy” ideas into “shovel ready” projects. This includes $25 billion for a dedicated fund to support ambitious projects that have tangible benefits to the regional or national economy but are too large or complex for existing funding programs.Invest resources wisely to deliver infrastructure projects that produce real results. America lags its peers – including Canada, the U.K., and Australia – in the on-time and on-budget delivery of infrastructure, and is falling behind countries like China on overall investment. Delivering this historic investment will require partnership across government, unions, and industry, to produce meaningful outcomes for the American people – reliable transportation, safe water, affordable housing, healthy schools, clean electricity, and broadband for all. When President Biden managed the implementation of the Recovery Act, he insisted on the strongest possible accountability and transparency measures to ensure public dollars were invested efficiently and effectively. When Congress enacts the American Jobs Plan, the President will bring the best practices from the Recovery Act and models from around the world to break down barriers and drive implementation of infrastructure investments across all levels of government to realize the President’s vision of safe, reliable, and resilient infrastructure. Critically, in order to achieve the best outcomes on cost and performance for the American people, the Administration will support the state, local, and tribal governments delivering these projects through world-class training, technical assistance, and procurement best practices. In addition, the President’s plan will use smart, coordinated infrastructure permitting to expedite federal decisions while prioritizing stakeholder engagement, community consultation, and maximizing equity, health, and environmental benefits.Make our infrastructure more resilient:Millions of Americans feel the effects of climate change each year when their roads wash out, airport power goes down, or schools get flooded. Last year alone, the United States faced 22 extreme weather and climate-related disaster events with losses exceeding $1 billion each – a cumulative price tag of nearly $100 billion. Chronic underinvestment in resilience has harmed American transportation infrastructure, disrupting service, making travel conditions unsafe, causing severe damage, and increasing maintenance and operating costs.In 2020, the United States endured 22 separate billion-dollar weather and climate disasters, costing $95 billion in damages to homes, businesses, and public infrastructure. In Louisiana, Hurricane Laura caused $19 billion of damage, resulting in broken water systems and a severely damaged electrical grid that impeded a quick recovery. Building back better requires that the investments in this historic plan make our infrastructure more resilient in the face of increasingly severe floods, wildfires, hurricanes, and other risks. Every dollar spent on rebuilding our infrastructure during the Biden administration will be used to prevent, reduce, and withstand the impacts of the climate crisis. Additionally, the President is calling for $50 billion in dedicated investments to improve infrastructure resilience and:Safeguard critical infrastructure and services, and defend vulnerable communities. People of color and low-income people are more likely to live in areas most vulnerable to flooding and other climate change-related weather events. They also are less likely to have the funds to prepare for and recover from extreme weather events. In the wake of Hurricane Harvey, Black and Hispanic residents were twice as likely as white residents to report experiencing an income shock with no recovery support. President Biden’s plan increases resilience in the most essential services, including the electric grid; food systems; urban infrastructure; community health and hospitals; and our roads, rail, and other transportation assets. His plan also targets investments to support infrastructure in those communities most vulnerable physically and financially to climate-driven disasters and to build back above existing codes and standards. The President’s plan will invest in vulnerable communities through a range of programs, including FEMA’s Building Resilient Infrastructure and Communities program, HUD’s Community Development Block Grant program, new initiatives at the Department of Transportation, a bipartisan tax credit to provide incentives to low- and middle-income families and to small businesses to invest in disaster resilience, and transition and relocation assistance to support community-led transitions for the most vulnerable tribal communities.Maximize the resilience of land and water resources to protect communities and the environment. President Biden’s plan will protect and, where necessary, restore nature-based infrastructure – our lands, forests, wetlands, watersheds, and coastal and ocean resources. Families and businesses throughout the United States rely on this infrastructure for their lives and livelihoods. President Biden is calling on Congress to invest in protection from extreme wildfires, coastal resilience to sea-level rise and hurricanes, support for agricultural resources management and climate-smart technologies, and the protection and restoration of major land and water resources like Florida’s Everglades and the Great Lakes. Additionally, the President’s plan provides funding for the western drought crisis by investing in water efficiency and recycling programs, Tribal Water Settlements, and dam safety. President Biden’s plan will empower local leaders to shape these restoration and resilience project funds in line with the Outdoor Restoration Force Act.REBUILD CLEAN DRINKING WATER INFRASTRUCTURE, A RENEWED ELECTRIC GRID, AND HIGH-SPEED BROADBAND TO ALL AMERICANSToo many American families drink polluted water, lack access to affordable, high-speed internet, or experience power outages too often – all while paying more for those services. President Biden’s plan invests in the infrastructure necessary to finally deliver the water, broadband, and electricity service that Americans deserve. Specifically, his plan will:Ensure clean, safe drinking water is a right in all communities:Across the country, pipes and treatment plants are aging and polluted drinking water is endangering public health. An estimated six to ten million homes still receive drinking water through lead pipes and service lines. The President’s investments in improving water infrastructure and replacing lead service lines will create good jobs, including union and prevailing wage jobs. President Biden’s plan invests $111 billion to:Replace 100 percent of the nation’s lead pipes and service lines. According to the CDC, there is no safe level of lead exposure for children. Lead can slow development and cause learning, behavior, and hearing problems in children, as well as lasting kidney and brain damage. President Biden believes that no American family should still be receiving drinking water through lead pipes and service lines. To eliminate all lead pipes and service lines in the country, he is calling on Congress to invest $45 billion in the Environmental Protection Agency’s Drinking Water State Revolving Fund and in Water Infrastructure Improvements for the Nation Act (WIIN) grants. In addition to reducing lead exposure in homes, this investment also will reduce lead exposure in 400,000 schools and childcare facilities.Upgrade and modernize America’s drinking water, wastewater, and stormwater systems, tackle new contaminants, and support clean water infrastructure across rural America. Aging water systems threaten public health in thousands of communities nationwide. President Biden will modernize these systems by scaling up existing, successful programs, including by providing $56 billion in grants and low-cost flexible loans to states, Tribes, territories, and disadvantaged communities across the country. President Biden’s plan also provides $10 billion in funding to monitor and remediate PFAS (per- and polyfluoroalkyl substances) in drinking water and to invest in rural small water systems and household well and wastewater systems, including drainage fields.Revitalize America’s digital infrastructure:Generations ago, the federal government recognized that without affordable access to electricity, Americans couldn’t fully participate in modern society and the modern economy. With the 1936 Rural Electrification Act, the federal government made a historic investment in bringing electricity to nearly every home and farm in America, and millions of families and our economy reaped the benefits. Broadband internet is the new electricity. It is necessary for Americans to do their jobs, to participate equally in school learning, health care, and to stay connected. Yet, by one definition, more than 30 million Americans live in areas where there is no broadband infrastructure that provides minimally acceptable speeds. Americans in rural areas and on tribal lands particularly lack adequate access. And, in part because the United States has some of the highest broadband prices among OECD countries, millions of Americans can’t use broadband internet even if the infrastructure exists where they live. In urban areas as well, there is a stark digital divide: a much higher percentage of White families use home broadband internet than Black or Latino families. The last year made painfully clear the cost of these disparities, particularly for students who struggled to connect while learning remotely, compounding learning loss and social isolation for those students.The President believes we can bring affordable, reliable, high-speed broadband to every American through a historic investment of $100 billion. That investment will:Build high-speed broadband infrastructure to reach 100 percent coverage. The President’s plan prioritizes building “future proof” broadband infrastructure in unserved and underserved areas so that we finally reach 100 percent high-speed broadband coverage. It also prioritizes support for broadband networks owned, operated by, or affiliated with local governments, non-profits, and co-operatives-providers with less pressure to turn profits and with a commitment to serving entire communities. Moreover, it ensures funds are set aside for infrastructure on tribal lands and that tribal nations are consulted in program administration. Along the way, it will create good-paying jobs with labor protections and the right to organize and bargain collectively.Promote transparency and competition. President Biden’s plan will promote price transparency and competition among internet providers, including by lifting barriers that prevent municipally-owned or affiliated providers and rural electric co-ops from competing on an even playing field with private providers, and requiring internet providers to clearly disclose the prices they charge.Reduce the cost of broadband internet service and promote more widespread adoption. President Biden believes that building out broadband infrastructure isn’t enough. We also must ensure that every American who wants to can afford high-quality and reliable broadband internet. While the President recognizes that individual subsidies to cover internet costs may be needed in the short term, he believes continually providing subsidies to cover the cost of overpriced internet service is not the right long-term solution for consumers or taxpayers. Americans pay too much for the internet – much more than people in many other countries – and the President is committed to working with Congress to find a solution to reduce internet prices for all Americans, increase adoption in both rural and urban areas, hold providers accountable, and save taxpayer money.Reenergize America’s power infrastructure:As the recent Texas power outages demonstrated, our aging electric grid needs urgent modernization. A Department of Energy study found that power outages cost the U.S. economy up to $70 billion annually. The President’s plan will create a more resilient grid, lower energy bills for middle class Americans, improve air quality and public health outcomes, and create good jobs, with a choice to join a union, on the path to achieving 100 percent carbon-free electricity by 2035. President Biden is calling on Congress to invest $100 billion to:Build a more resilient electric transmission system. Through investments in the grid, we can move cheaper, cleaner electricity to where it is needed most. This starts with the creation of a targeted investment tax credit that incentivizes the buildout of at least 20 gigawatts of high-voltage capacity power lines and mobilizes tens of billions in private capital off the sidelines – right away. In addition, President Biden’s plan will establish a new Grid Deployment Authority at the Department of Energy that allows for better leverage of existing rights-of-way – along roads and railways – and supports creative financing tools to spur additional high priority, high-voltage transmission lines. These efforts will create good-paying jobs for union laborers, line workers, and electricians, in addition to creating demand for American-made building materials and parts.Spur jobs modernizing power generation and delivering clean electricity. President Biden is proposing a ten-year extension and phase down of an expanded direct-pay investment tax credit and production tax credit for clean energy generation and storage. These credits will be paired with strong labor standards to ensure the jobs created are good-quality jobs with a free and fair choice to join a union and bargain collectively. President Biden’s plan will mobilize private investment to modernize our power sector. It also will support state, local, and tribal governments choosing to accelerate this modernization through complementary policies – like clean energy block grants that can be used to support clean energy, worker empowerment, and environmental justice. And, it will use the federal government’s incredible purchasing power to drive clean energy deployment across the market by purchasing 24/7 clean power for federal buildings. To ensure that we fully take advantage of the opportunity that modernizing our power sector presents, President Biden will establish an Energy Efficiency and Clean Electricity Standard (EECES) aimed at cutting electricity bills and electricity pollution, increasing competition in the market, incentivizing more efficient use of existing infrastructure, and continuing to leverage the carbon pollution-free energy provided by existing sources like nuclear and hydropower. All of this will be done while ensuring those facilities meet robust and rigorous standards for worker, public, and environmental safety as well as environmental justice – and all while moving toward 100 percent carbon-pollution free power by 2035.Put the energy industry to work plugging orphan oil and gas wells and cleaning up abandoned mines. Hundreds of thousands of former orphan oil and gas wells and abandoned mines pose serious safety hazards, while also causing ongoing air, water, and other environmental damage. Many of these old wells and mines are located in rural communities that have suffered from years of disinvestment. President Biden’s plan includes an immediate up-front investment of $16 billion that will put hundreds of thousands to work in union jobs plugging oil and gas wells and restoring and reclaiming abandoned coal, hardrock, and uranium mines. In addition to creating good jobs in hard-hit communities, this investment will reduce the methane and brine that leaks from these wells, just as we invest in reducing leaks from other sources like aging pipes and distribution systems.Remediate and redevelop idle real property, and spur the buildout of critical physical, social, and civic infrastructure in distressed and disadvantaged communities. In thousands of rural and urban communities around the country, hundreds of thousands of former industrial and energy sites are now idle – sources of blight and pollution. Through a $5 billion investment in the remediation and redevelopment of these Brownfield and Superfund sites, as well as related economic and workforce development, President Biden’s plan will turn this idle real property into new hubs of economic growth and job creation. But it’s not enough to redevelop old infrastructure. President Biden’s plan also will bring these communities new critical physical, social, and civic infrastructure. This means investing in the Economic Development Agency’s Public Works program (while lifting the cap of $3 million on projects) and in “Main Street” revitalization efforts through HUD and USDA. President Biden’s plan also will spur targeted sustainable, economic development efforts through the Appalachian Regional Commission’s POWER grant program, Department of Energy retooling grants for idled factories (through the Section 132 program), and dedicated funding to support community-driven environmental justice efforts – such as capacity and project grants to address legacy pollution and the cumulative impacts experienced by frontline and fenceline communities.Build next generation industries in distressed communities. President Biden believes that the market-based shift toward clean energy presents enormous opportunities for the development of new markets and new industries. For example, by pairing an investment in 15 decarbonized hydrogen demonstration projects in distressed communities with a new production tax credit, we can spur capital-project retrofits and installations that bolster and decarbonize our industry. The President’s plan also will establish ten pioneer facilities that demonstrate carbon capture retrofits for large steel, cement, and chemical production facilities, all while ensuring that overburdened communities are protected from increases in cumulative pollution. In addition, in line with the bipartisan SCALE Act, his plan will support large-scale sequestration efforts that leverage the best science and prioritize community engagement. And to accelerate responsible carbon capture deployment and ensure permanent storage, President Biden’s plan reforms and expands the bipartisan Section 45Q tax credit, making it direct pay and easier to use for hard-to-decarbonize industrial applications, direct air capture, and retrofits of existing power plants.Mobilize the next generation of conservation and resilience workers. This $10 billion investment will put a new, diverse generation of Americans to work conserving our public lands and waters, bolstering community resilience, and advancing environmental justice through a new Civilian Climate Corps, all while placing good-paying union jobs within reach for more Americans.BUILD, PRESERVE, AND RETROFIT MORE THAN TWO MILLION HOMES AND COMMERCIAL BUILDINGS; MODERNIZE OUR NATION’S SCHOOLS, COMMUNITY COLLEGES, AND EARLY LEARNING FACILITIES; AND UPGRADE VETERANS’ HOSPITALS AND FEDERAL BUILDINGSThere is a severe shortage of affordable housing options in America, and the American Society of Civil Engineers gives our school infrastructure a “D+.” President Biden believes we must invest in building and upgrading modern, resilient, and energy-efficient homes and buildings, including our nation’s schools, early learning facilities, veterans’ hospitals and other federal buildings, and in the process, employ American workers in jobs with good wages and benefits. President Biden’s plan will:Build, preserve, and retrofit more than two million homes and commercial buildings to address the affordable housing crisis:There is a severe shortage of affordable housing options in America. Millions of families pay more than half their income on rent, and home energy costs are a significant concern for American renters as well. And, across the country, people are struggling to purchase their first home.The President’s plan invests $213 billion to produce, preserve, and retrofit more than two million affordable and sustainable places to live. It pairs this investment with an innovative new approach to eliminate state and local exclusionary zoning laws, which drive up the cost of construction and keep families from moving to neighborhoods with more opportunities for them and their kids. The President’s plan will help address the growing cost of rent and create jobs that pay prevailing wages, including through project labor agreements with a free and fair choice to join a union and bargain collectively.President Biden is calling on Congress to:Produce, preserve, and retrofit more than a million affordable, resilient, accessible, energy efficient, and electrified housing units. Through targeted tax credits, formula funding, grants, and project-based rental assistance, President Biden’s plan will extend affordable housing rental opportunities to underserved communities nationwide, including rural and tribal areas.Build and rehabilitate more than 500,000 homes for low- and middle-income homebuyers. President Biden is calling on Congress to take immediate steps to spur the construction and rehabilitation of homes for underserved communities. Specifically, he is calling on Congress to pass the innovative, bipartisan Neighborhood Homes Investment Act (NHIA). Offering $20 billion worth of NHIA tax credits over the next five years will result in approximately 500,000 homes built or rehabilitated, creating a pathway for more families to buy a home and start building wealth.Eliminate exclusionary zoning and harmful land use policies. For decades, exclusionary zoning laws – like minimum lot sizes, mandatory parking requirements, and prohibitions on multifamily housing – have inflated housing and construction costs and locked families out of areas with more opportunities. President Biden is calling on Congress to enact an innovative, new competitive grant program that awards flexible and attractive funding to jurisdictions that take concrete steps to eliminate such needless barriers to producing affordable housing.Address longstanding public housing capital needs. Years of disinvestment have left our public housing in disrepair. President Biden is calling on Congress to invest $40 billion to improve the infrastructure of the public housing system in America. This funding will address critical life-safety concerns, mitigate imminent hazards to residents, and undertake energy efficiency measures which will significantly reduce ongoing operating expenses. These improvements will disproportionately benefit women, people of color, and people with disabilities.Put union building trade workers to work upgrading homes and businesses to save families money. President Biden’s plan will upgrade homes through block grant programs, the Weatherization Assistance Program, and by extending and expanding home and commercial efficiency tax credits. President Biden’s plan also will establish a $27 billion Clean Energy and Sustainability Accelerator to mobilize private investment into distributed energy resources; retrofits of residential, commercial and municipal buildings; and clean transportation. These investments have a particular focus on disadvantaged communities that have not yet benefited from clean energy investments.Modernize our nation’s schools and early learning facilities:Too many students attend schools and child care centers that are run-down, unsafe, and pose health risks. These conditions are dangerous for our kids and exist disproportionately in schools with a high percentage of low-income students and students of color. And even before COVID-19, 43 percent of parents reported struggling to find an adequate child care facility for their children. President Biden is calling on Congress to:Modernize our public schools. President Biden believes we can’t close the opportunity gap if low-income kids go to schools in buildings that undermine health and safety, while wealthier students get access to safe buildings with labs and technology that prepare them for the jobs of the future. The President’s plan invests $100 billion to upgrade and build new public schools, through $50 billion in direct grants and an additional $50 billion leveraged through bonds. These funds will first go toward making sure our schools are safe and healthy places of learning for our kids and work for teachers and other education professionals, for example by improving indoor air quality and ventilation. As we make our schools safer, we also will invest in cutting-edge, energy-efficient and electrified, resilient, and innovative school buildings with technology and labs that will help our educators prepare students to be productive workers and valued students. Under the President’s plan, better operating school facilities will reduce their greenhouse gas emissions and also will become environments of community resilience with green space, clean air, and safe places to gather, especially during emergencies. Funds also will be provided to improve our school kitchens, so they can be used to better prepare nutritious meals for our students and go green by reducing or eliminating the use of paper plates and other disposable materials.Investing in community college infrastructure. Investing in community college facilities and technology helps protect the health and safety of students and faculty, address education deserts (particularly for rural communities), grow local economies, improve energy efficiency and resilience, and narrow funding inequities in the short-term, as we rebuild our higher education finance system for the long-run. President Biden is calling on Congress to invest $12 billion to address these needs. States will be responsible for using the dollars to address both existing physical and technological infrastructure needs at community colleges and identifying strategies to address access to community college in education deserts.Upgrade child care facilities and build new supply in high need areas. Lack of access to child care makes it harder for parents, especially mothers, to fully participate in the workforce. In areas with the greatest shortage of child care slots, women’s labor force participation is about three percentage points less than in areas with a high capacity of child care slots, hurting families and hindering U.S. growth and competitiveness. President Biden is calling on Congress to provide $25 billion to help upgrade child care facilities and increase the supply of child care in areas that need it most. Funding would be provided through a Child Care Growth and Innovation Fund for states to build a supply of infant and toddler care in high-need areas. President Biden also is calling for an expanded tax credit to encourage businesses to build child care facilities at places of work. Employers will receive 50 percent of the first $1 million of construction costs per facility so that employees can enjoy the peace of mind and convenience that comes with on-site child care. These investments will provide safe, accessible, energy efficient, high-quality learning environments for providers to teach and care for children. Public investments in schools and childcare improves children’s outcomes-the foundation for future productivity gains. In classrooms with poor ventilation, for example, student absences are 10 to 20 percent higher.Upgrade VA hospitals and federal buildings:The federal government operates office buildings, courthouses, and other facilities in every state, where millions of workers serve the public from outdated, inefficient, and sometimes unsafe working conditions. While the median age of U.S. private sector hospitals is roughly 11 years, the Veterans Affairs’ hospital portfolio has a median age of 58. The President believes our veterans deserve state-of-the-art hospitals and care. President Biden’s plan provides $18 billion for the modernization of Veterans Affairs hospitals and clinics. President Biden’s plan also invests $10 billion in the modernization, sustainability, and resilience of federal buildings, including through a bipartisan Federal Capital Revolving Fund to support investment in a major purchase, construction or renovation of Federal facilities. And, President Biden’s plan utilizes the vast tools of federal procurement to purchase low carbon materials for construction and clean power for these newly constructed VA hospitals and federal buildings.SOLIDIFY THE INFRASTRUCTURE OF OUR CARE ECONOMY BY CREATING JOBS AND RAISING WAGES AND BENEFITS FOR ESSENTIAL HOME CARE WORKERSEven before COVID-19, our country was in the midst of a caregiving crisis. In addition to caring for children, families feel the financial burden of caring for aging relatives and family members with disabilities, and there is a financial strain for people with disabilities living independently to ensure that they are getting care in their homes. At the same time, hundreds of thousands of people who need better care are unable to access it, even though they qualify under Medicaid. In fact, it can take years for these individuals to get the services they badly need. Aging relatives and people with disabilities deserve better. They deserve high-quality services and support that meet their unique needs and personal choices.Caregivers – who are disproportionally women of color – have been underpaid and undervalued for far too long. Wages for essential home care workers are approximately $12 per hour, putting them among the lowest paid workers in our economy. In fact, one in six workers in this sector live in poverty. President Biden is calling on Congress to make substantial investments in the infrastructure of care in our country. Specifically, he is calling on Congress to put $400 billion toward expanding access to quality, affordable home- or community-based care for aging relatives and people with disabilities. These investments will help hundreds of thousands of Americans finally obtain the long-term services and support they need, while creating new jobs and offering caregiving workers a long-overdue raise, stronger benefits, and an opportunity to organize or join a union and collectively bargain. Research shows that increasing the pay of direct care workers greatly enhances workers’ financial security, improves productivity, and increases the quality of care offered. Another study showed that increased pay for care workers prevented deaths, reduced the number of health violations, and lowered the cost of preventative care.President Biden’s plan will:Expand access to long-term care services under Medicaid. President Biden believes more people should have the opportunity to receive care at home, in a supportive community, or from a loved one. President Biden’s plan will expand access to home and community-based services (HCBS) and extend the longstanding Money Follows the Person program that supports innovations in the delivery of long-term care.Put in place an infrastructure to create good middle-class jobs with a free and fair choice to join a union. The HCBS expansion under Medicaid can support well-paying caregiving jobs that include benefits and the ability to collectively bargain, building state infrastructure to improve the quality of services and to support workers. This will improve wages and quality of life for essential home health workers and yield significant economic benefits for low-income communities and communities of color.INVEST IN R&D, REVITALIZE MANUFACTURING AND SMALL BUSINESSES, AND TRAIN AMERICANS FOR THE JOBS OF THE FUTUREHalf the jobs in our high growth, high wage sectors are concentrated in just 41 counties, locking millions of Americans out of a shot at a middle-class job. President Biden believes that, even in the face of automation and globalization, America can and must retain well-paid union jobs and create more of them all across the country. U.S. manufacturing was the Arsenal of Democracy in World War II and must be part of the Arsenal of American Prosperity today, helping fuel an economic recovery for working families. From the invention of the semiconductor to the creation of the Internet, new engines of economic growth have emerged due to public investments that support research, commercialization, and strong supply chains. President Biden is calling on Congress to make smart investments in research and development, manufacturing and regional economic development, and in workforce development to give our workers and companies the tools and training they need to compete on the global stage. Specifically, President Biden is calling on Congress to:Invest in R&D and the technologies of the future:Public investments in R&D lay the foundation for the future breakthroughs that over time yield new businesses, new jobs, and more exports. However, we need more investment if we want to maintain our economic edge in today’s global economy. We are one of the few major economies whose public investments in research and development have declined as a percent of GDP in the past 25 years. Countries like China are investing aggressively in R&D, and China now ranks number two in the world in R&D expenditures. In addition, barriers to careers in high-innovation sectors remain significant. We must do more to improve access to the higher wage sectors of our economy. In order to win the 21st century economy, President Biden believes America must get back to investing in the researchers, laboratories, and universities across our nation. But this time, we must do so with a commitment to lifting up workers and regions who were left out of past investments. He is calling on Congress to make an $180 billion investment that will:Advance U.S. leadership in critical technologies and upgrade America’s research infrastructure. U.S. leadership in new technologies-from artificial intelligence to biotechnology to computing-is critical to both our future economic competitiveness and our national security. Based on bipartisan proposals, President Biden is calling on Congress to invest $50 billion in the National Science Foundation (NSF), creating a technology directorate that will collaborate with and build on existing programs across the government. It will focus on fields like semiconductors and advanced computing, advanced communications technology, advanced energy technologies, and biotechnology. He also is calling on Congress to provide $30 billion in additional funding for R&D that spurs innovation and job creation, including in rural areas. His plan also will invest $40 billion in upgrading research infrastructure in laboratories across the country, including brick-and-mortar facilities and computing capabilities and networks. These funds would be allocated across the federal R&D agencies, including at the Department of Energy. Half of those funds will be reserved for Historically Black College and Universities (HBCUs) and other Minority Serving Institutions, including the creation of a new national lab focused on climate that will be affiliated with an HBCU.Establish the United States as a leader in climate science, innovation, and R&D. The President is calling on Congress to invest $35 billion in the full range of solutions needed to achieve technology breakthroughs that address the climate crisis and position America as the global leader in clean energy technology and clean energy jobs. This includes launching ARPA-C to develop new methods for reducing emissions and building climate resilience, as well as expanding across-the-board funding for climate research. In addition to a $5 billion increase in funding for other climate-focused research, his plan will invest $15 billion in demonstration projects for climate R&D priorities, including utility-scale energy storage, carbon capture and storage, hydrogen, advanced nuclear, rare earth element separations, floating offshore wind, biofuel/bioproducts, quantum computing, and electric vehicles, as well as strengthening U.S. technological leadership in these areas in global markets.Eliminate racial and gender inequities in research and development and science, technology, engineering, and math. Discrimination leads to less innovation: one study found that innovation in the United States will quadruple if women, people of color, and children from low-income families invented at the rate of groups who are not held back by discrimination and structural barriers. Persistent inequities in access to R&D dollars and to careers in innovation industries prevents the U.S. economy from reaching its full potential. President Biden is calling on Congress to make a $10 billion R&D investment at HBCUs and other MSIs. He also is calling on Congress to invest $15 billion in creating up to 200 centers of excellence that serve as research incubators at HBCUs and other MSIs to provide graduate fellowships and other opportunities for underserved populations, including through pre-college programs.Retool and revitalize American manufacturers and small businesses:The U.S. manufacturing sector accounts for 70 percent of business R&D expenditure, 30 percent of productivity growth, and 60 percent of exports. Manufacturing is a critical node that helps convert research and innovation into sustained economic growth. Workers on the factory floor work hand-in-hand with engineers and scientists to sharpen and maintain our competitive edge. While manufacturing jobs have been a ladder to middle-class life, we have let our industrial heartland be hollowed out, with quality jobs moving abroad or to regions with lower wages and fewer protections for workers. President Biden is calling on Congress to invest $300 billion in order to:Strengthen manufacturing supply chains for critical goods. President Biden believes we must produce, here at home, the technologies and goods that meet today’s challenges and seize tomorrow’s opportunities. President Biden is calling on Congress to invest $50 billion to create a new office at the Department of Commerce dedicated to monitoring domestic industrial capacity and funding investments to support production of critical goods. The President also is calling on Congress to invest $50 billion in semiconductor manufacturing and research, as called for in the bipartisan CHIPS Act.Protect Americans from future pandemics. This funding provides $30 billion over 4 years to create U.S. jobs and prevent the severe job losses caused by pandemics through major new investments in medical countermeasures manufacturing; research and development; and related biopreparedness and biosecurity. This includes investments to shore up our nation’s strategic national stockpile; accelerate the timeline to research, develop and field tests and therapeutics for emerging and future outbreaks; accelerate response time by developing prototype vaccines through Phase I and II trials, test technologies for the rapid scaling of vaccine production, and ensure sufficient production capacity in an emergency; enhance U.S. infrastructure for biopreparedness and investments in biosafety and biosecurity; train personnel for epidemic and pandemic response; and onshore active pharmaceutical ingredients. COVID-19 has claimed over 500,000 American lives and cost trillions of dollars, demonstrating the devastating and increasing risk of pandemics and other biological threats. Over the past two decades, outbreaks of SARS, Ebola, influenza, Zika and others have cost billions in lost productivity. The risk of catastrophic biological threats is increasing due to our interconnected world, heightened risk of spillover from animals to humans, ease of making and modifying pandemic agents, and an eroding norm against the development and use of biological weapons. The American Rescue Plan serves as an initial investment of $10 billion. With this new major investment in preventing future pandemics, the United States will build on the momentum from the American Rescue Plan, bolster scientific leadership, create jobs, markedly decrease the time from discovering a new threat to putting shots in arms, and prevent future biological catastrophes. Jumpstart clean energy manufacturing through federal procurement. The federal government spends more than a half-a-trillion dollars buying goods and services each year. As a result, it has the ability to be a first-mover in markets. This incredible purchasing power can be used to drive innovation and clean energy production, as well as to support high quality jobs. To meet the President’s goals of achieving net-zero emissions by 2050, the United States will need more electric vehicles, charging ports, and electric heat pumps for residential heating and commercial buildings. The President is calling on Congress to enable the manufacture of those cars, ports, pumps, and clean materials, as well as critical technologies like advanced nuclear reactors and fuel, here at home through a $46 billion investment in federal buying power, creating good-paying jobs and reinvigorating local economies, especially in rural areas.Make it in ALL of America. The President believes we must build social infrastructure to support innovation and productivity across the country. He is calling on Congress to invest $20 billion in regional innovation hubs and a Community Revitalization Fund. At least ten regional innovation hubs will leverage private investment to fuel technology development, link urban and rural economies, and create new businesses in regions beyond the current handful of high-growth centers. The Community Revitalization Fund will support innovative, community-led redevelopment projects that can spark new economic activity, provide services and amenities, build community wealth, and close the current gaps in access to the innovation economy for communities of color and rural communities that have suffered from years of disinvestment. And, President Biden is calling on Congress to invest $14 billion in NIST to bring together industry, academia, and government to advance technologies and capabilities critical to future competitiveness. He is calling on Congress to quadruple support for the Manufacturing Extensions Partnership -increasing the involvement of minority-owned and rurally-located small- and-medium-sized enterprises in technological advancement.Increase access to capital for domestic manufacturers. America’s manufacturing industry needs to innovate, adapt, and scale to win the industries of the future. President Biden is calling on Congress to invest more than $52 billion in domestic manufacturers. The President is calling on Congress to invest in existing capital access programs with a proven track record of success, with a focus on supporting rural manufacturing and clean energy. The President’s plan also includes specific supports for modernizing supply chains, including in the auto sector, like extending the 48C tax credit program. He also will call for the creation of a new financing program to support debt and equity investments for manufacturing to strengthen the resilience of America’s supply chains.Create a national network of small business incubators and innovation hubs. Almost all manufacturers (98 percent) are small- and medium-sized firms. Furthermore, small business ownership is a cornerstone of job creation and wealth building. However, even before the pandemic, many entrepreneurs struggled to compete in a system that is so often tilted in favor of large corporations and wealthy individuals. President Biden is calling on Congress to invest $31 billion in programs that give small businesses access to credit, venture capital, and R&D dollars. The proposal includes funding for community-based small business incubators and innovation hubs to support the growth of entrepreneurship in communities of color and underserved communities.Partner with rural and Tribal communities to create jobs and economic growth in rural America. Today, despite the fact that rural and Tribal communities across the country are asset-rich, more than 8 in 10 persistent poverty counties fall outside of a metropolitan area. President Biden’s plan invests in rural and Tribal communities, including by providing 100 percent broadband coverage, rebuilding crumbling infrastructure like roads, bridges, and water systems, providing research and development funding to land grant universities, and positioning the U.S. agricultural sector to lead the shift to net-zero emissions while providing new economic opportunities for farmers. President Biden also is proposing to transform the way the federal government partners with rural and Tribal communities to create jobs and spur inclusive economic growth. Rural communities often don’t have the same budget as big cities to hire staff needed to navigate and access federal programs. On top of that, they have to navigate a myriad of programs all with different purposes and requirements. As part of his plan to ensure that all communities recover – regardless of geography – President Biden is proposing a $5 billion for a new Rural Partnership Program to help rural regions, including Tribal Nations, build on their unique assets and realize their vision for inclusive community and economic development. This program will empower rural regions by supporting locally-led planning and capacity building efforts, and providing flexible funding to meet critical needs.Invest in Workforce Development:As more Americans rejoin the workforce or seek out new opportunities in a changing economy, there is a greater need for skills development opportunities for workers of all kind. In order to ensure workers have ready access to the skills they will need to succeed, and to improve racial and gender equity, President Biden is calling on Congress to invest $100 billion in proven workforce development programs targeted at underserved groups and getting our students on paths to careers before they graduate from high school. His plan will:Pair job creation efforts with next generation training programs. President Biden is calling on Congress to invest in evidence-based approaches to supporting workers. This includes wraparound services, income supports, counseling, and case management, paired with high-quality training and effective partnerships between educational institutions, unions, and employers. Specifically, he is calling for a $40 billion investment in a new Dislocated Workers Program and sector-based training. This funding will ensure comprehensive services for workers, who have lost jobs through no fault of their own, to gain new skills and to get career services they need with in-demand jobs. Sector-based training programs will be focused on growing, high demand sectors such as clean energy, manufacturing, and caregiving, helping workers of all kinds to find good-quality jobs in an ever-changing economy.Target workforce development opportunities in underserved communities. Structural racism and persistent economic inequities have undermined opportunity for millions of workers. All of the investments in workforce training will prioritize underserved communities and communities hit hard by a transforming economy. President Biden also will call upon Congress to ensure that new jobs created in clean energy, manufacturing, and infrastructure are open and accessible to women and people of color. President Biden is calling on Congress to also specifically target funding to workers facing some of the greatest challenges, with a $12 billion investment. This includes $5 billion over eight years in support of evidence-based community violence prevention programs. He is calling on Congress to invest in job training for formerly incarcerated individuals and justice-involved youth and in improving public safety. He also is calling on Congress to tackle long-term unemployment and underemployment through a new subsidized jobs program. And, he is calling on Congress to eliminate sub-minimum wage provisions in section 14(c) of the Fair Labor Standards Act and expand access to competitive, integrated employment opportunities and fair wages for workers with disabilities.Build the capacity of the existing workforce development and worker protection systems. The United States has underinvested in the workforce development system for decades. In fact, we currently spend just one-fifth of the average that other advanced economies spend on workforce and labor market programs. This lack of investment impacts all of us: better educated workers create spillover effects for other workers and lack of employment has negative social impacts on communities. President Biden is calling on Congress to invest a combined $48 billion in American workforce development infrastructure and worker protection. This includes registered apprenticeships and pre-apprenticeships, creating one to two million new registered apprenticeships slots, and strengthening the pipeline for more women and people of color to access these opportunities through successful pre-apprenticeship programs such as the Women in Apprenticeships in Non-Traditional Occupations. This will ensure these underserved groups have greater access to new infrastructure jobs. These investments include the creation of career pathway programs in middle and high schools, prioritizing increased access to computer science and high-quality career and technical programs that connect underrepresented students to STEM and in-demand sectors through partnerships with both institutions of higher education and employers. The President’s plan also will support community college partnerships that build capacity to deliver job training programs based on in-demand skills. His plan will better tailor services to workers’ job seeking and career development needs through investments in Expanded Career Services and the Title II adult literacy program.The President’s plan includes funding to strengthen the capacity of our labor enforcement agencies to protect against discrimination, protect wages and benefits, enforce health and safety safeguards, strengthen health care and pensions plans, and promote union organizing and collective bargaining.CREATE GOOD-QUALITY JOBS THAT PAY PREVAILING WAGES IN SAFE AND HEALTHY WORKPLACES WHILE ENSURING WORKERS HAVE A FREE AND FAIR CHOICE TO ORGANIZE, JOIN A UNION, AND BARGAIN COLLECTIVELY WITH THEIR EMPLOYERSAs America works to recover from the devastating challenges of a deadly pandemic, an economic crisis, and a reckoning on race that reveals deep disparities, we need to summon a new wave of worker power to create an economy that works for everyone. We owe it not only to those who have put in a lifetime of work, but to the next generation of workers who have only known an America of rising inequality and shrinking opportunity. This is especially important for workers of color and for women, who have endured discrimination and systematic exclusion from economic opportunities for generations. All of us deserve to enjoy America’s promise in full – and our nation’s leaders have a responsibility to overcome racial, gender, and other inequalities to make it happen. To that end, the President is calling on Congress to create new, good-quality union jobs for American workers by leveraging their grit and ingenuity to address the climate crisis and build a sustainable infrastructure. Increased unionization can alsoimpact our economic growth overall by improving productivity. President Biden’s plan will:Empower Workers. President Biden is calling on Congress to update the social contract that provides workers with a fair shot to get ahead, overcome racial and other inequalities that have been barriers for too many Americans, expand the middle class, and strengthen communities. He is calling on Congress to ensure all workers have a free and fair choice to join a union by passing the Protecting the Right to Organize (PRO) Act, and guarantee union and bargaining rights for public service workers. His plan also ensures domestic workers receive the legal benefits and protections they deserve and tackles pay inequities based on gender.Create good jobs. The President’s plan demands that employers benefitting from these investments follow strong labor standards and remain neutral when their employees seek to organize a union and bargain collectively. He is asking Congress to tie federal investments in clean energy and infrastructure to prevailing wages and require transportation investments to meet existing transit labor protections. He also is calling for investments tied to Project Labor, Community Workforce, local hire, and registered apprenticeships and other labor or labor-management training programs so that federal investments support good jobs and pathways to the middle class. Finally, he is asking Congress to include a commitment to increasing American jobs through Buy America and Ship American provisions.Protect workers. President Biden is calling on Congress to provide the federal government with the tools it needs to ensure employers are providing workers with good jobs – including jobs with fair and equal pay, safe and healthy workplaces, and workplaces free from racial, gender, and other forms of discrimination and harassment. In addition to a $10 billion investment in enforcement as part of the plan’s workforce proposals, the President is calling for increased penalties when employers violate workplace safety and health rules.THE MADE IN AMERICA TAX PLANAlongside the American Jobs Plan, the President is proposing to fix the corporate tax code so that it incentivizes job creation and investment here in the United States, stops unfair and wasteful profit shifting to tax havens, and ensures that large corporations are paying their fair share.The 2017 tax law only made an unfair system worse. A recent independent study found that 91 Fortune 500 companies paid $0 in federal corporate taxes on U.S. income in 2018. In fact, according to recent analysis by the Joint Committee on Taxation, the 2017 tax bill cut the average rate that corporations paid in half from 16 percent to less than 8 percent in 2018. A number of the provisions in the 2017 law also created new incentives to shift profits and jobs overseas. President Biden’s reform will reverse this damage and fundamentally reform the way the tax code treats the largest corporations.President Biden’s reform will also make the United States a leader again in the world and help bring an end to the race-to-the-bottom on corporate tax rates that allows countries to gain a competitive advantage by becoming tax havens. This is a generational opportunity to fundamentally shift how countries around the world tax corporations so that big corporations can’t escape or eliminate the taxes they owe by offshoring jobs and profits from the United States.Together these corporate tax changes will raise over $2 trillion over the next 15 years and more than pay for the mostly one-time investments in the American Jobs Plan and then reduce deficits on a permanent basis:Set the Corporate Tax Rate at 28 percent. The President’s tax plan will ensure that corporations pay their fair share of taxes by increasing the corporate tax rate to 28 percent. His plan will return corporate tax revenue as a share of the economy to around its 21st century average from before the 2017 tax law and well below where it stood before the 1980s. This will help fund critical investments in infrastructure, clean energy, R&D, and more to maintain the competitiveness of the United States and grow the economy.Discourage Offshoring by Strengthening the Global Minimum Tax for U.S. Multinational Corporations. Right now, the tax code rewards U.S. multinational corporations that shift profits and jobs overseas with a tax exemption for the first ten percent return on foreign assets, and the rest is taxed at half the domestic tax rate. Moreover, the 2017 tax law allows companies to use the taxes they pay in high-tax countries to shield profits in tax havens, encouraging offshoring of jobs. The President’s tax reform proposal will increase the minimum tax on U.S. corporations to 21 percent and calculate it on a country-by-country basis so it hits profits in tax havens. It will also eliminate the rule that allows U.S. companies to pay zero taxes on the first 10 percent of return when they locate investments in foreign countries. By creating incentives for investment here in the United States, we can reward companies that help to grow the U.S. economy and create a more level playing field between domestic companies and multinationals. End the Race to the Bottom Around the World. The United States can lead the world to end the race to the bottom on corporate tax rates. A minimum tax on U.S. corporations alone is insufficient. That can still allow foreign corporations to strip profits out of the United States, and U.S. corporations can potentially escape U.S. tax by inverting and switching their headquarters to foreign countries. This practice must end. President Biden is also proposing to encourage other countries to adopt strong minimum taxes on corporations, just like the United States, so that foreign corporations aren’t advantaged and foreign countries can’t try to get a competitive edge by serving as tax havens. This plan also denies deductions to foreign corporations on payments that could allow them to strip profits out of the United States if they are based in a country that does not adopt a strong minimum tax. It further replaces an ineffective provision in the 2017 tax law that tried to stop foreign corporations from stripping profits out of the United States. The United States is now seeking a global agreement on a strong minimum tax through multilateral negotiations. This provision makes our commitment to a global minimum tax clear. The time has come to level the playing field and no longer allow countries to gain a competitive edge by slashing corporate tax rates.Prevent U.S. Corporations from inverting or claiming tax havens as their residence. Under current law, U.S. corporations can acquire or merge with a foreign company to avoid U.S. taxes by claiming to be a foreign company, even though their place of management and operations are in the United States. President Biden is proposing to make it harder for U.S. corporations to invert. This will backstop the other reforms which should address the incentive to do so in the first place.Deny Companies Expense Deductions for Offshoring Jobs and Credit Expenses for Onshoring. President Biden’s reform proposal will also make sure that companies can no longer write off expenses that come from offshoring jobs. This is a matter of fairness. U.S. taxpayers shouldn’t subsidize companies shipping jobs abroad. Instead, President Biden is also proposing to provide a tax credit to support onshoring jobs.Eliminate a Loophole for Intellectual Property that Encourages Offshoring Jobs and Invest in Effective R&D Incentives. The President’s ambitious reform of the tax code also includes reforming the way it promotes research and development. This starts with a complete elimination of the tax incentives in the Trump tax law for “Foreign Derived Intangible Income” (FDII), which gave corporations a tax break for shifting assets abroad and is ineffective at encouraging corporations to invest in R&D. All of the revenue from repealing the FDII deduction will be used to expand more effective R&D investment incentives.Enact A Minimum Tax on Large Corporations’ Book Income. The President’s tax reform will also ensure that large, profitable corporations cannot exploit loopholes in the tax code to get by without paying U.S. corporate taxes. A 15 percent minimum tax on the income corporations use to report their profits to investors-known as “book income”-will backstop the tax plan’s other ambitious reforms and apply only to the very largest corporations.Eliminate Tax Preferences for Fossil Fuels and Make Sure Polluting Industries Pay for Environmental Clean Up. The current tax code includes billions of dollars in subsidies, loopholes, and special foreign tax credits for the fossil fuel industry. As part of the President’s commitment to put the country on a path to net-zero emissions by 2050, his tax reform proposal will eliminate all these special preferences. The President is also proposing to restore payments from polluters into the Superfund Trust Fund so that polluting industries help fairly cover the cost of cleanups.Ramping Up Enforcement Against Corporations. All of these measures will make it much harder for the largest corporations to avoid or evade taxes by eliminating parts of the tax code that are too easily abused. This will be paired with an investment in enforcement to make sure corporations pay their fair share. Typical workers’ wages are reported to the IRS and their employer withholds, so they pay all the taxes they owe. By contrast, large corporations have at their disposal loopholes they exploit to avoid or evade tax liabilities, and an army of high-paid tax advisors and accountants who help them get away with this. At the same time, an under-funded IRS lacks the capacity to scrutinize these suspect tax maneuvers: A decade ago, essentially all large corporations were audited annually by the IRS; today, audit rates are less than 50 percent. This plan will reverse these trends, and make sure that the Internal Revenue Service has the resources it needs to effectively enforce the tax laws against corporations. This will be paired with a broader enforcement initiative to be announced in the coming weeks that will address tax evasion among corporations and high-income Americans.These are key steps toward a fairer tax code that encourages investment in the United States, stops shifting of jobs and profits abroad, and makes sure that corporations pay their fair share. The President looks forward to working with Congress, and will be putting forward additional ideas in the coming weeks for reforming our tax code so that it rewards work and not wealth, and makes sure the highest income individuals pay their fair share. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:america, Australia, Canada, CDC, China, Europe, Florida, GDP, Government, Louisiana, NIST, OECD, SARS, stem, Texas, U.S., United States, White Houselast_img read more

Hyundai is taking the Veloster N racing with its new TCR

first_img And if you’re just a fan, head out anyway and cheer for Toronto native Mark Wilkins, who will be racing a Veloster N for Bryan Herta Autosport.  Hyundai is trying to establish the bona fides of its high-performance N sub-brand as quickly as possible, and what better way to do that than to go racing?For the Pilot Challenge, they’ve massaged the Veloster N at Hyundai Motorsport Headquarters in Alzenau, Germany; the mechanics there shoehorned in a 350-horsepower version of Hyundai’s 2.0-liter turbocharged four and a race-spec six-speed sequential transmission.The Veloster remains a front-driver, of course, but the TCR gains a mechanically-adjustable differential for more precise traction, as well as fully-adjustable dampers from the front MacPherson strut and rear multi-link suspension. Six-piston Brembo front calipers grip 380-millimetre ventilated rotors for fade-free braking. The whole thing weighs 1,285 kilograms including the driver, per TCR regulations.RELATED What is it? A fully homologated race car from Hyundai.Why is it important? In fact, the TCR is actually a fully-homologated customer race car from Hyundai.If you’ve got US$155,000, you, too, can go racing in IMSA’s Michelin Pilot Challenge racing series. We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. RELATED TAGSHyundaiVelosterNon-LuxuryDetroitDetroit Auto ShowNew VehiclesNon-Luxury Hyundai unveils tuned Elantra GT N Line for CanadaWhen is it coming? If you’re planning on racing the 2019 season, you should be talking to Hyundai now.Should I buy one? If you have US$155,000 burning a hole in your pocket and you have a certified racing license, then absolutely. As further incentive, there will a Canadian round, the Pilot Challenge coming to Canadian Tire Motorsport Park – aka Mosport – in Bowmanville, Ontario on July 6th as part of the 2018 Mobil 1 SportsCar Grand Prix. advertisement ‹ Previous Next › Trending in Canada COMMENTSSHARE YOUR THOUGHTS Buy It! Princess Diana’s humble little 1981 Ford Escort is up for auction An engagement gift from Prince Charles, the car is being sold by a Princess Di “superfan”last_img read more

Do the Wave: Jeep loyalty program comes to Canada on Grand Cherokee L

first_imgJeep is finally bringing its all-in Jeep Wave premium owner loyalty program to the Great White North — but you’ll have to spring for a Grand Cherokee L to get it.At least at first. To coincide with the new three-row Jeep launch party, the company will unveil this three-year loyalty program which includes a yaffle of services owners would otherwise usually pay for after they’ve taken delivery of their shiny new Jeep.Up to six oil changes are part of the deal, for example, as are trip interruption coverages (a portion of hotel, meals, or return transportation cost) and first-day rental guarantees. There is also mention of ‘VIP treatment’ at select Jeep events, though those are in short supply during this socially-distant pandemic. “Jeep owners are some the most loyal and passionate customers anywhere,” said Dave Buckingham, President and CEO, FCA Canada. “We want to reward that fidelity by giving back to our owners with a suite of benefits that enriches their ownership experience of the exciting, all-new, 2021 Jeep Grand Cherokee L.”We left that last bit of marketing fluff in the quote because it underscores the point that, for now, the Jeep Wave loyalty program will only be offered to customers of the big-daddy Grand Cherokee L. This could be a value-add play to help break into the cutthroat three-row SUV segment, or it could be a way to offset costs since such a machine generally packs fat profits to the company bottom line.This is part of a larger push by Jeep to expand this program. South of the border, Jeep Wave – they’ve had it there since 2015 – has been freshly extended from 24 to 36 months and is now included on every single 2021 vehicle in Jeep showrooms. In 2020, only specific trims were eligible on certain models; the Cherokee Trailhawk got it, for example, while lesser Cherokees did not. Now they all do. Back here in Canada, owners of the Grand Cherokee L will be automatically enrolled into Jeep Wave. Members can go to any Canadian authorized FCA Canada dealer to redeem their oil change and tire rotation during the first 36 months of ownership. COMMENTSSHARE YOUR THOUGHTS We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. Trending Videoscenter_img RELATED TAGSJeepSUVFlexNew Vehicles4x4FlexGrand Cherokee LJeepJeep Waveloyalty The Rolls-Royce Boat Tail may be the most expensive new car ever See More Videos PlayThe Rolls-Royce Boat Tail may be the most expensive new car everPlay3 common new car problems (and how to prevent them) | Maintenance Advice | Driving.caPlayFinal 5 Minivan Contenders | Driving.caPlay2021 Volvo XC90 Recharge | Ministry of Interior Affairs | Driving.caPlayThe 2022 Ford F-150 Lightning is a new take on Canada’s fave truck | Driving.caPlayBuying a used Toyota Tundra? Check these 5 things first | Used Truck Advice | Driving.caPlayCanada’s most efficient trucks in 2021 | Driving.caPlay3 ways to make night driving safer and more comfortable | Advice | Driving.caPlayDriving into the Future: Sustainability and Innovation in tomorrow’s cars | virtual panelPlayThese spy shots get us an early glimpse of some future models | last_img read more

Orange, Bouygues €10B takeover talks progressing – report

first_img Orange makes secure cloud pact for French market Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >> Read more France’s Orange apparently signed a confidentiality agreement with smaller rival Bouygues, with a view of securing a take-over of its telecoms arm in a deal worth €10 billion.French newspaper Journal du Dimanche reports the companies signed the agreement on 24 December to mark the start of official negotiations. Bloomberg first reported that Orange was eyeing a deal for Bouygues Telecom at the beginning of last month. As part of the reported terms of the deal, Bouygues would receive a 15 per cent stake in Orange, valued at approximately €8 billion, with the remaining €2 billion paid in cash, according to the publication.In turn, France’s 23 per cent stake in Orange could also be diluted to under 20 per cent should state investment company BPI sell part of its holding. Bouygues would however still retain a lower stake than the state, said a source.As part of the talks, Orange could also take a 10 per cent stake in France’s largest commercial television channel TF1, which is owned by Bouygues, according to a separate report from Le Canard Enchaine newspaper.This week, the two parties will reportedly hold a series of meetings on valuation, governance, social and competition. According to sources, the latter will be considered in France, and not by the European Commission in Brussels, should the talks advance.“The teams get along well and discussions have moved forward. We will know quickly if they are going to last,” said a source.To meet competition concerns, Orange will also reportedly have to sell up some of its assets, including antennas, spectrum and subscribers, to market rivals Free Mobile and SFR Numericable.According to the report, Orange hopes to recoup up to €5 billion from the asset disposal, although it is yet to approach the two companies in question.A merger between Orange and Bouygues would reduce the country’s telecoms market to three players, and the tie-up could also face political scrutiny.According to GSMA Intelligence, the combined entity would have a mobile market share of more than 50 per cent. Previous ArticleSamsung warns on tough 2016Next ArticleTrouble for Free Basics in India and Egypt Español Orange Ventures injects €30M into new fund Bouygues TelecomOrange Relatedcenter_img Home Orange, Bouygues €10B takeover talks progressing – report Author Las grandes operadoras europeas ponen condiciones a las RAN abiertas Kavit Majithia Tags AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 04 JAN 2016 last_img read more