You might remember how Joe Biden had a press release for the American Jobs Plan. The spending total was estimated to be $2 trillion. Senate Republicans, whose support will most likely be needed to pass any legislation due to a 50-50 split in seats, proposed a counteroffer, one truck drivers are more likely to appreciate.
Compare and Contrast
There are three reasons why truck drivers might prefer the unnamed infrastructure plan over the American Jobs Plan:
- Total spending in the unnamed plan estimates at $568 billion, compared to $2 trillion.
- Roads and bridges have larger funding: $299 billion versus $115 billion.
- As a total percentage of spending, roads and bridges is 52% instead of 10%.
Other spending sectors are comparable to those in the American Jobs Plan (AJP), at different rates.
- Public Transit. GOP $61 billion, AJP $85 billion.
- Rail. GOP $20 billion, AJP $80 billion.
- Water and wastewater transportation. GOP $35 billion, AJP $80 billion.
- Electric vehicles. GOP $0 (not mentioned), AJP $174 billion.
- Safety. GOP $13 billion, AJP $0 (17 percent of the funding for roads and bridges, no additional funding set aside).
- Ports and waterways. GOP $17 billion, AJP the same amount.
- Airports. GOP $44 billion, AJP $25 billion.
- Broadband. GOP $65 billion, AJP $100 billion.
- Water storage. GOP $14 billion, $0 AJP (not directly mentioned).
The American Jobs Plan also has many other projects, such as home care and housing, that are not included in the unnamed GOP plan.
While the Biden plan says the additional money will be provided from raising the corporate tax rate from 21 percent to 28 percent, the Republican plan does not have a directly stated funding source. If it were to go the same route as its counterpart, the corporate tax rate would increase to about 22.5%. This potential lower tax can also be an improvement for truck drivers, namely owner-operators who drive under the Authority of a larger, corporate carrier such as Landstar Systems.
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