US Infrastructure Update: Major Spending Proposals From Biden Administration

There is renewed optimism in the U.S. for increased public and private infrastructure investment in the coming years and that the federal government will play a more active supporting role. On March 31, the Biden administration released its American Jobs Plan (the "AJP"), a detailed blueprint to spend more than $2 trillion over eight years for a wide range of infrastructure-related initiatives, including both "core" or "traditional" infrastructure programs as well as energy transition and job creation proposals. The AJP is the first of two large spending proposals the administration has introduced in recent weeks; the second, called the American Families Plan, would spend or provide tax credits totaling approximately $1.8 trillion for child-care funding, paid family and medical leave, universal prekindergarten instruction and other priorities.