With a trillion dollar investment, US President Joe Biden wants to restore the roads in his country. With this, he not only wants to create jobs – but also to keep up with the competition.
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According to the White House, US President Joe Biden wants to announce an investment of two trillion dollars (1.7 trillion euros) in his country’s infrastructure. As the US government headquarters announced, Biden wants to present the eight-year investment program on Wednesday in a speech in Pittsburgh, Pennsylvania. The modernization of the infrastructure is to be financed by raising the corporate tax from 21 to 28 percent.
As a senior White House official said, one focus of the infrastructure program will be on the transportation network. According to this, 620 billion dollars (528 billion euros) alone will be spent on modernizing roads and other traffic routes.
The program would create “millions of well-paying jobs” and strengthen the US’s position in competition with China, the government official said.