Biden warns China will benefit if US does not invest in infrastructure – 06/30/2021

Cruises will begin in the United States in July or August - 05/24/2021
WASHINGTON, June 29 (EFE) – US President Joe Biden warned Tuesday that China will take the lead if the country does not make a firm commitment to investing in infrastructure, adding that the proposed plan would “create millions of high-paying jobs.” can do.”

Biden defended the infrastructure plan at an event in La Crosse, Wisconsin, where he insisted the proposal represented “an investment of a generation” so that the US could compete with the rest of the world. That’s when he warned that China was working “far ahead” of the US.

At another point in his speech, the President again referred to the Asian country, saying that China is producing electric vehicles at full speed, more than any other country in the world, and also exceeds the US in investment in research and development. is far ahead.

In addition, Biden recalled that on this day, 65 years ago, then-President Dwight Eisenhower signed legislation creating the Interstate Highway Network. Since then, the country has not made such an ambitious investment in infrastructure.

So Biden pushed for a deal between Democrats and Republicans that would guarantee passage of the infrastructure plan.

Biden is facing the challenge of salvaging a deal last week with a group of Democratic and Republican lawmakers to pass the plan, which plans to invest $1.2 trillion in infrastructure over eight years . After the deal was announced on Thursday, the enthusiasm was dampened by discontent on both sides.

On the one hand, Biden and Democrats want the proposal to be tied to a social spending plan that includes investing in broadband, combating the climate crisis and caring for children and the elderly. However, Republicans want the project limited to traditional infrastructure such as roads, bridges and ports.

See also  Learn how much CEOs of America's top companies earned in 2020

During the presentation of the bipartisan agreement on Thursday, Biden warned he would not sign off on the plan if it was not linked to social spending. On Saturday, however, he had to backtrack and clarify that he would sign it because of the risk of withdrawing Conservative support.

About the author: Sarah Gracie

Sarahis a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *