[Benjamin]

25 Mar 2021 | 20:26 UTC Pittsburgh
Biden to unveil infrastructure package next week
HIGHLIGHTS:

• Biden to make announcement March 31
• Focus on both physical, technology initiative

Author Justine Coyne
Editor Richard Rubin
https://www.spglobal.com/platts/en/m...kage-next-week

Biden, who will travel March 31 to Pittsburgh, is expected to push for a "Build Back Better" plan that could have a price tag as high as $4 trillion, Reuters reported.

A major investment in infrastructure needs to be made so that the US can compete on a global scale, Biden said, noting that the largest consideration for companies in investing in any city is access to adequate transportation and infrastructure.

More than one-third of US bridges need repair and one out of every five miles of US highways and major roads is in poor condition, Biden said.

Transportation Secretary Pete Buttigieg testified March 25 in front of the House Transportation Committee, telling the bipartisan panel that US infrastructure needs exceed $1 trillion and inaction on this front would be a threat to the country's future.

"I believe at this moment we have the best chance in any of our lifetimes to make a generational investment in infrastructure that will help us meet the country's most pressing challenges today and create a stronger future for decades to come," he said.