Following the passage of Biden's $1.2 Trillion Infrastructure Bill, different business sectors are now urging the President to swiftly sign it to create more jobs.
Importance of Infrastructure Bill to the Business Sector in Creating More Jobs
In a recently published article in The Hill, the business sector has come out in support of the infrastructure package, which includes significant investments in roads, bridges, broadband internet, potable water, rail, and public transportation without boosting corporate taxes. Biden should sign the law as quickly as possible according to business groups so that transportation authorities may begin planning projects.
Jay Hansen, executive vice president for advocacy at the National Asphalt Pavement Association, said in a statement after the bill passed the House that counts on President Biden to promptly sign this bipartisan bill into law so we can get back on track with more jobs, more safety, and better roads.
Biden said on Friday that he would sign the infrastructure measure "soon," describing it as "long overdue." The White House has said that President Biden would not sign the measure unless Democrats approve a $1.75 trillion climate and social spending package, which some progressive organizations are clamoring for according to a published report in Bloomberg Tax.
Additionally, Dennis Truax, president of the American Society of Civil Engineers, said in a statement that they are pleased by President Biden's announcement that he would immediately sign the law, ensuring that our towns get these long-awaited resources and vital projects can go ahead.
Passage of Infrastructure Bill Is a Major Win for America
On Friday, the infrastructure measure cleared House 228-206. Thirteen Republicans voted in favor of the bill, but six progressive Democrats voted against, claiming that Democratic leaders didn't do enough to assure that the party's moderates would back the bigger reconciliation package.
In August, the Senate passed the infrastructure bill, with 19 Republicans joining all 50 Democrats in favor. Almost every major business organization in Washington, D.C., supports the infrastructure plan while opposing the reconciliation measure, which would impose a corporate profit minimum tax according to a report published in Reuters.
Biden was encouraged to "swiftly sign" the infrastructure package by the Business Roundtable, which represents CEOs of some of the country's top corporations. The bill's approval was hailed by the US Chamber of Commerce, the country's biggest corporate lobbying organization as "a tremendous success for America."
Furthermore, Ford Motor Company, which would benefit from the bill's investment in electric car charging stations, praised the House decision as "excellent news for the United States' infrastructure and transition to a zero-emission transportation future" and said it hoped Biden would sign it.
Biden's Infrastructure Bill Will Be the Country's Biggest Upgrade on Roads
Biden's administration will now be in charge of the most significant upgrading of America's roads, trains, and other transportation infrastructure in a generation, which he promises would generate employment and improve the country's competitiveness.
However, the second pillar of Biden's domestic agenda, a massive expansion of the social safety net and climate-change initiatives, is still a work in progress for Democrats. That plan, which would cost $1.75 trillion, would be the most significant extension of the US safety net since the 1960s, but the party has failed to rally around it.
