Here’s exactly how Biden’s $2 trillion of infrastructure spending breaks down

AP President Joe Biden Amtrak Train Boarding
President Joe Biden and his wife, First Lady Jill Biden, board an Amtrak train during the 2020 presidential campaign.

  • President Joe Biden will officially announce his $2 trillion American Jobs Plan today.
  • The bill contains major investments in transportation, housing, and climate change policies.
  • Biden plans to offset the spending in the plan with a corporate tax increase.
  • See more stories on Insider’s business page.

President Joe Biden is set to announce the first part of his two-part infrastructure package this afternoon. It’s called the American Jobs Plan, and it will cost about $2 trillion.

The package is focused on job creation, traditional infrastructure spending, and investment in many other things that stand to redefine infrastructure as a political issue, such as funding for care workers, as well as incentives for childcare to be provided at American workplaces. Biden plans to couple it with a tax increase for corporations, meant to offset the bill’s spending over 15 years.

Here’s how the spending will break down.

Transportation

  • $621 billion for transportation includes:
    • $115 billion for modernizing roads, highways, and bridges
    • $20 billion for road safety
    • $85 billion for public transit
    • $80 billion for Amtrak and freight rail service
    • $174 billion for electric vehicles
    • $25 billion for airports
    • $17 billion for ports
    • $20 billion for neighborhoods historically excluded from transportation investments
    • $25 billion to fund new projects
    • $50 billion for infrastructure resilience, with a special emphasis on more vulnerable areas

Water

  • $111 billion for water infrastructure includes:
    • $45 billion towards fully eliminating lead pipes through various programs
    • $56 billion in loans and grants to help modernize water systems around the country
    • $10 billion for monitoring and fixing substances in drinking water

Broadband and power

  • $100 billion for broadband
    • This would build out infrastructure for 100% coverage and would specifically allocate funds for tribal lands
    • It would also seek to reduce broadband pricing
  • $100 billion for power infrastructure includes:
    • $16 billion towards plugging old wells and cleaning up abandoned mines
    • $5 billion towards revamping former industrial and energy sites
    • $10 billion for the creation of a Civilian Climate Corps

Housing and education

  • $213 billion for creating and retrofitting over 2 million housing units, with a $40 billion investment in public housing infrastructure
  • $100 billion for upgrading and building public schools
  • $12 billion for community college infrastructure
  • $25 billion for upgrading childcare facilities and making it more widely accessible
    • This is accompanied by a tax credit to incentivize building childcare at Americans’ places of work
  • $18 billion to modernize Veterans Affairs hospitals, as well as $10 billion for federal buildings
  • $400 billion towards home/community care for the elderly and disabled
    • This would expand access, and seek to improve wages, benefits, and unionization for workers in the industry.

Research and development

  • $180 billion towards R&D includes:
    • $50 billion for the National Science Foundation
    • $30 billion for innovation and job creation R&D
    • $40 billion in upgrading research infrastructure, with half allocated to Historically Black College and Universities (HBCUs) as well as “Minority Serving Institutions” (MSIs)
    • $10 billion for those HBCUs and MSIs, as well as $15 billion to create over 200 centers at them to serve as research incubators
    • $35 billion in climate research and development

Manufacturing and labor

  • $300 billion for American manufacturing and small business
    • $50 billion for a new office for a new office focused on domestic industry
    • $50 billion for research and manufacturing for semiconductors
    • $30 billion to create new jobs and fend off losses during future pandemics
    • $46 billion for federal buying, with an emphasis on various clean technologies
    • $20 billion for regional innovation hubs
    • $14 billion towards increasing competitiveness through technological advances
    • $52 billion to domestic manufacturers
    • $31 billion for programs providing credit, R&D funding, and venture capital to small businesses
    • $5 billion to create a new “Rural Partnership Program,” aimed at supporting local rural efforts
  • $100 billion for workforce development includes:
    • $40 billion towards career services and training for workers who have lost jobs
    • $12 billion in targeted funding towards “workers facing some of the greatest challenges,” prioritizing underserved and hard hit communities, with $5 billion towards “evidence-based community violence prevention programs”
    • $48 billion towards worker protection and development infrastructure, including an expansion of apprenticeships, with a particular emphasis on women and people of color
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