American Jobs Plan - Building retrofits
Within the American Jobs Plan, President Biden proposed a USD 360 billion investment in building retrofits. It is constructed on three main points:
- USD 213 billion will be allocated to produce, preserve, and retrofit more than two million affordable and sustainable places to live. This includes an $17.5 billion investment in the Department of Energy’s Weatherization Assistance program and $500 million in grants and low-interest loans to help renovate multifamily homes
- Modernize the nation's schools and early learning facilities, including USD 100 billion to upgrade and build new public schools, USD 12 billion investment in community college facilities and technology, and USD 25 billion to upgrade child care facilities and increase the supply of child care
- USD 10 billion in the modernization, sustainability, and resilience of federal buildings, including VA hospitals
Update May 26 2021: The American Jobs Plan pairs the $213 billion in direct funding with more than $100 billion in new and expanded tax credits with bipartisan support to build and modernize housing across the country.
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