Joe Biden to announce USD 2 trillion infrastructure plan

US President Joe Biden prepares to sign the Paycheck Protection Program Extension Act of 2021 into law at the White House in Washington, DC. Pic/AFP

United States President Joe Biden will announce a massive once-in-a-century $2 trillion plan on Wednesday to transform America's aging infrastructure, and position the country to out-compete China, according to officials.

The American Jobs Plan, to be announced by Biden in Pittsburgh, Pennsylvania, will create millions of good-paying jobs and rebuild the US infrastructure. This is a once-in-a-century capital investment in America, according to officials. It will also position the US to out-compete China, they said.

"By investing about $2 trillion over the next eight years, we can transform our current and future infrastructure and fundamentally change life for Americans," officials said ahead of the presidential visit to Pittsburgh. "If passed alongside President Biden's Made in America corporate tax plan, the plan would be fully paid for within the next 15 years and reduce deficits in the years after.

This plan will bring public investment as a share of the economy back to where it was in the 1960s, the last time we made transformative investments in our nation's infrastructure," they said. The US is currently ranked 13th in the world in infrastructure, which the officials said has real costs.

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