L.A. AREA CHAMBER RESPONDS TO ANNOUNCEMENT OF AMERICAN JOBS PLAN

by L.A. Area Chamber

LOS ANGELES, CA – APRIL 1, 2021 – President Biden announced his $2 trillion plan to enhance our nation’s infrastructure and create 18 million jobs. The American Jobs Plan represents the latest action from the White House which simultaneously combats the United States’ crumbling infrastructure and the fallout from the COVID-19 pandemic.

“We applaud the President’s commitment to addressing our nation’s aging infrastructure,” said Maria S. Salinas, President and CEO of the Los Angeles Area Chamber of Commerce. “Reducing economic inequality, ensuring the longevity of our infrastructure, and mitigating climate change gives us the opportunity to pave a sustainable and prosperous future for our nation. This will be the largest infrastructure investment since World War II.”

The initial funding proposal for traditional infrastructure includes:

• $621 billion for physical infrastructure, such as roads, bridges, and public transit;
• 500,000 electric vehicle charging stations nationwide, and increasing tax incentives for consumers to purchase electric vehicles;
• $100 billion to update the electrical grid;
• $213 billion for building upgrades in disadvantaged communities, such as schools and VA hospitals;
• $100 billion to expand broadband internet access’;
• $400 billion in “care infrastructure,” aimed at improving health care delivery.

The Chamber will ensure our regions’ business community has a seat at the table with federal leadership to discuss incentivizing the repatriation of jobs and capital as well as concerns about the potential increase in tax rates. “As we rebound from the public health and economic crises caused by COVID-19, we need sweeping investments in infrastructure to foster job creation and economic recovery,” said Salinas. “Economic recovery is only possible when businesses are allowed to flourish in an ecosystem conducive to their growth, their community’s success, and a thriving region.”

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