Letter from the President on the Investing in America Report: Today's Investments, Tomorrow's Future

My Fellow Americans,

Four years ago, the pandemic was raging and the economy was reeling. Vice President Harris and I came to office determined to get us through one of the toughest periods in our nation's history by making sure this would be a presidency for all Americans. We made a commitment to write a new economic playbook to grow the economy from the middle-out and bottom-up instead of the top down. Critically important, we made sure the historic laws we signed would make once-in-a-generation investments in all of America. We call it our Investing in America agenda.

Four years later, we are proud to issue this report that captures the Investing in America agenda comprised of some of the most significant investments ever made that will transform our nation for the better for decades to come.

This long-term agenda builds on the foundation laid by the American Rescue Plan, which I signed into law as soon as I came into office to vaccinate the nation and deliver immediate economic relief to Americans who needed it the most. It kept people in their homes, businesses and schools open, and helped cut child poverty in half. It stemmed the tide of the pandemic and economic crises, allowing the economy to land softly without a recession.

Our Investing in America agenda followed with ground-breaking laws that have been long talked about, but that we finally got done. Our Bipartisan Infrastructure Law is already modernizing our roads, bridges, and airports, expanding access to clean water and high-speed Internet, and so much more from 72,000 projects so far with more to come. Our CHIPS and Science Act is making sure our supply chains start in America instead of end in America – by bringing semiconductor manufacturing back to America and attracting billions of dollars in private sector investment. Our Inflation Reduction Act includes the most significant investments in climate and clean energy ever, while also reducing health care and prescription drug costs for millions of seniors.

In total, our Investing in America agenda is creating millions of good-paying jobs – many of them union jobs and jobs that don't require a college degree. These are jobs in new factories with good wages to raise a family on. These are jobs in hometowns so young people don't have to move in search for work. These are investments that are improving the quality of life for all of our communities – cities, suburbs, small towns, rural communities, and across Tribal nations.

These benefits are only the beginning. Today, the first American-made leading-edge chips are being mass produced. By the end of 2026, we are on track to repair over 356,300 miles of highway and over 20,800 bridges. By the end of 2028, we will replace over one million toxic lead pipes, bringing clean drinking water to over 2.5 million people. And by the end of 2030, every household and small business in America will be connected to affordable, reliable, high-speed Internet.

Four years later, we are now better positioned than any nation in the world to win the economic competition of the 21st century. We did it by proving we are the United States of America and there is nothing beyond our capacity when we do it together.

Joseph R. Biden