Eric Shawn: Pres. Biden pushes an FDR-style infrastructure plan Republicans oppose
Philip Wegmann says there's a lot more than bridges and highways in the $2 trillion jobs proposal
CNN’s Jim Acosta on Sunday joked that his main concern with President Biden’s proposed $2.3 trillion infrastructure plan was having a high-speed train equipped with functioning Wi-Fi that could take him from New York to Washington, D.C.
Acosta made the comments during an appearance on CNN’s "Reliable Sources," with host Brian Stelter while discussing the prospects of infrastructure projects actually taking off under Biden.
Jim Acosta speaking with "Reliable Sources" host Brian Stelter on CNN. (CNN)
"As far as I’m concerned, could we just have a damn high-speed train in this country? I mean, can I please get from New York to Washington without problems on the Acela? And can I get on the Wi-Fi, by the way, when I ride the train and have that not be a problem?
Acosta then recounted his travels down south and out west, commenting on how the U.S. has "major infrastructure problems."
A 2019 analysis by Researchers at George Mason University determined that a reliable, energy-efficient Northeast Corridor between Washington, D.C. and New York city – one as safe as French Alstom trains – would cost upwards of $164 million per mile. That would total roughly $37 billion for a single U.S. route, not including its yearly operating cost of $570 million.
The North Atlantic Rail project – a proposed initiative calls for improving existing lines and building new infrastructure between major cities across New England. Among its more ambitious aims is to create an electric high-speed line between New York and Boston that would allow travel above 200 mph, cutting down the time to just over one and a half hours. The estimated cost of the 20-year project is more than $100 billion.
The President outlined a huge $2.3 trillion plan Wednesday to re-engineer the nation's infrastructure in what he billed as "a once-in-a-generation investment in America" that would undo his predecessor's signature legislative achievement — giant tax cuts for corporations — in the process.
White House officials said the spending would generate those jobs as the country shifts away from fossil fuels and combats the perils of climate change. It is also an effort to compete with the technology and public investments made by China, which has the world's second-largest economy and is fast gaining on the United States' dominant position.
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The Democratic president's infrastructure projects would be financed by higher corporate taxes — a trade-off that could lead to fierce resistance from the business community and thwart attempts to work with Republican lawmakers. Biden hopes to pass an infrastructure plan by summer, which could mean relying solely on the slim Democratic majorities in the House and the Senate.
The proposal comes as the national debt now sits at around $28 trillion.
The Associated Press contributed to this report.
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