- President Joe Biden unveils American Jobs Plan to strengthen U.S. infrastructure
- Approximately half of the funding would involve investments that could support innovative small businesses and startups
- Plan calls for wide-ranging improvements in everything from roads to broadband internet
Summary by Dirk Langeveld
About half of the infrastructure bill unveiled today by President Joe Biden would involve investments that could benefit innovative startups and small businesses, according to an analysis by TechCrunch.
The American Jobs Plan, which has a price tag of approximately $2 trillion, would pursue improvements in areas such as roads, bridges, ports, airports, transit, electrical grids, drinking water, broadband internet, and more. The TechCrunch summary notes how startups have been tackling many of the issues addressed in the American Jobs Plan, offering solutions that could be expanded and implemented more widely if the proposal is approved.
Specific initiatives in the proposal include efforts to improve natural disaster resiliency, semiconductor research and manufacturing, and preparation for future pandemics.
The American Jobs Plan specifically mentions small business support in several areas, including:
- Extending opportunities to small businesses to take part in the design, construction, and manufacturing of infrastructure and component parts in transportation upgrades
- A tax credit to encourage small businesses to invest in disaster resiliency
- A call to increase the involvement of minority-owned and rural small and medium-sized businesses in the Manufacturing Extensions Partnership
- A $31 billion investment in programs to give small businesses access to credit, venture capital, and research and development funding
- Funding for community-based small business incubators and innovation hubs with a particular focus on supporting underserved communities and communities of color
