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President Biden Unveils $2 Trillion Infrastructure Plan

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It includes billions of dollars for roads and bridges, including the long-stalled construction of a new rail tunnel under the Hudson River. CBS2's Alice Gainer reports.

Video Transcript

- President Biden is in Pittsburgh, where he just unveiled a $2 trillion infrastructure plan.

- It includes billions of dollars for roads and bridges and the long-stalled construction of a new rail tunnel under the Hudson. CBS2's Alice Gainer here now with more on this one. Alice?

ALICE GAINER: Maurice and Christine, this plan would include renovating some of the nation's most iconic landmarks, veterans hospitals, and aging schools. It would also move the country away from fossil fuels to clean energy and create millions of jobs.

JOE BIDEN: It's a vision not seen through the eyes of Wall Street or Washington, but through the eyes of hardworking people.

ALICE GAINER: Speaking at the Carpenters Pittsburgh Training Center, President Biden detailed his American Jobs Plan.

JOE BIDEN: We'll grow the economy, make us more competitive around the world, promote our national security interests, and put us in a position to win the global competition with China.

ALICE GAINER: It calls for $621 billion for transportation-- roads, bridges, public transit, rails, ports, waterways, and airports. 20,000 miles of highways would be rebuilt, and 500,000 electric vehicle charging stations would be constructed. The nation's infrastructure is in desperate need of help, recently earning a C-minus score from the American Society of Civil Engineers.

New Jersey Governor Phil Murphy says the plan contains the Gateway Program, which includes the long-proposed new Hudson River tunnel and rehabilitation of the existing tunnel, allowing for twice as many Amtrak and New Jersey Transit commuter trains.

PHIL MURPHY: We're the densest state in the nation. We're on the Northeast Corridor. We've got a lot of legacy assets-- bridges, roads, tunnels, rails. Any big infrastructure package nationally, we're a disproportionate winner.

ALICE GAINER: Also in the plan, $111 billion to replace lead pipes and ensure access to clean drinking water, money to build new schools, expand access to high speed internet, and to update the nation's electrical systems. It would be financed by raising the corporate tax rate from 21% to 28% and hikes on the wealthiest Americans. Republicans have balked at that.

MITCH MCCONNELL: We're trying to recover economically. The last thing we need is a big tax increase on top of that, so I just don't like the direction they're headed. It's not one that's designed to get bipartisan support.

ALICE GAINER: Well, the Jobs Plan is the first part of a two-part proposal. The second, the American Family Plan, will be announced in the coming weeks. The president is hoping to pass the plan by the summer, but there could be a hitch brought on by some tri-state area lawmakers. Marcia Kramer will have more on that coming up at 6 o'clock. Christine and Maurice?

- All right. Alison, thank you.

- But more help--