Washington DC - Today, U.S. Senator Maria Cantwell and other Democratic senators unveiled a $1 trillion infrastructure plan which they hope to pay for by rolling back Republican tax breaks to corporations and the wealthy. The plan includes $140 billion to repair roads & bridges, $30 billion to modernize ports & waterways, and $115 billion to repair & improve public transportation.
“The state of Washington needs infrastructure. Whether it’s transportation, our ports, or our electricity grid, a major investment in infrastructure will grow our economy and create new jobs,” said Cantwell.
The eight Democrats introducing the proposal claim it would invest billions to modernize airports and waterways, invest in affordable housing, rebuild schools and VA hospitals, overhaul road and bridge repairs, equip rural communities with high-speed internet, revitalize main streets across the country, and modernize the electric grid and energy infrastructure.
“We need to upgrade our power lines, build smarter buildings, make an investment in the energy workforce, and to protect our grid from cybersecurity attacks. We learned from previous infrastructure investment in grid technology, $1 billion in investment created $7 billion in economic output and 50,000 new jobs,” Cantwell, who is the top Democrat on the Senate Energy Committee, added.
The infrastructure proposal would also include measures from Senator Cantwell’s Affordable Housing Credit Improvement Act to strengthen the Low Income Housing Tax Credit. The recently-enacted Republican tax bill reduced the number of affordable homes that will be produced with LIHTC by an estimated 235,000 units over the next ten years.
“The fact that the tax bill made affordable housing worse in the United States of America, when we have an opioid crisis and a homelessness crisis, I guarantee you that everyone is going to be talking about the fact that they made it harder, harder to deal with this crisis, and gave the money away to major corporations,” Cantwell added.
According to the American Society of Civil Engineers, the U.S. must spend $1.6 trillion above current levels just to get its infrastructure to a state of good repair. The Senate Democrats’ historic proposal would invest just over $1 trillion in our country’s infrastructure and, they say, create more than 15 million jobs.
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