Biden unveils “The American Jobs Plan” in an ambitious bid to highlight dangers from climate change without stifling productivity
Washington, April 2 2021: The American Jobs Plan comes with an ambitious pitch, complete with the requisite, “create millions of good jobs, “rebuild the country’s infrastructure”, “Space race”, and “Out compete China” buzz terms.
The $2 Trillion plan was unveiled in the manufacturing hub Pittsburgh and places environment at the heart of the America’s future industrial growth. The US energy sector will be de-carbonized by 2035, Congress will invest $100 billion in cleaner energy and tax credits on wind and solar will extended for 10 years. These are the ingredients of Joe Biden’s “green” initiative.
Prototype projects in the plan will be worth $15 Billion and include areas of energy storage, carbon capture and utilizing off-shore wind power. A green bank, “Clean Energy and Sustainability Accelerator” to mobilize funds is also part of the plan.
The US which currently has one-third the market share that China has in Electric Vehicles, will also invest $174 billion in the sector under the initiative. Under this, EV chargers will be created, factories will be revamped to build both vehicles and batteries and 50,000 diesel vehicles would be replaced.
Experts largely praise the proposal but some say the US should be spending more. The campaign group 350.org would like to see a $16 trillion bill and critics are skeptical that funding carbon capture technology, means there is no clamp down on the fossil fuel industry. Another criticism is that the US has not promised to completely out-phase Internal Combustion engine vehicles.
On the legislative front, Senate Minority Leader Mitch McConnell vowed Republicans would oppose the plan because of the tax hikes it requires, scuppering Biden’s hopes for bipartisan support.
Ali Zaidi, deputy White House climate advisor said “On the competition side of the ledger, every year that we delay, we’re talking about other countries racing ahead to seize the competitive advantage in these incredibly important industries of the future.”
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