President Biden proposed on Wednesday his infrastructure initiative – the American Jobs Plan – which would invest $2 trillion over eight years to upgrade the nation’s infrastructure, revitalize manufacturing, invest in basic research and science and shore up supply chains. He pays for the investments by increasing the corporate tax rate to 28% but promised not to raise taxes on those who make less than $400,000.
“It is clear in the American Jobs Plan that USDA is central to the President’s strategy to build a strong economy for working people, restore the safety and integrity of our nation’s infrastructure from broadband to water to power and electricity, and to renew America’s leadership in science, research and development to give us the tools to make and create U.S. products to be sold around the world,” said Secretary of Agriculture Tom Vilsack in a statement.
Mike Steenhoek, executive director of the Soybean Transportation Coalition, told Farm Progress he was very pleased to see the plan proposes to repair the worst 10,000 smaller bridges including those in rural areas.
“The Soy Transportation Coalition and others have long argued that any infrastructure proposal should address the needs of both urban and rural America," he says. "President Biden should be commended for ensuring rural bridges – often serving as the initial link in the agricultural supply chain – are included in the plan.”
Biden is also calling on Congress to invest an additional $17 billion in inland waterways, coastal ports, land ports of entry and ferries. Steenhoek says the inland waterway system is a significant reason U.S. agriculture is competitive in the international marketplace. “Unfortunately, this critical mode of transportation has too often been ignored by both Republicans and Democrats,” he says.
