The American Jobs plan would invest $5.6 billion, the CSC, now with President Biden’s support, would invest $4.2 billion, and the PSC would invest $5.8 billion per year in new funding for environmental remediation of several kinds. For example, all three would invest in capping old oil and gas wells and restoring and reclaiming abandoned mines. They would provide funding to remediate and redevelop former industrial and energy sites that are now idle.
All three plans also include investments in next generation industries within this broad category. For example, projects would include retrofitting old facilities to reduce carbon emissions by converting some of those emissions into decarbonized hydrogen that can be used for power generation, industrial heating, or as an industrial feedstock. Other projects would include retrofitting large steel, cement, and chemical production facilities to demonstrate effective carbon capture methods.