2022 Year in Review

INFRASTRUCTURE BILL - THE
INFRUSTRUCTURE INVESTMENT AND JOB ACT
Biden has accomplished what the previous administrations of
Barack Obama and Donald Trump failed to achieve. With the
passing of the infrastructure bill, Biden has provided a USD $1.2
trillion bipartisan infrastructure package to reinvigorate America’s
infrastructure and ensure future industry security. The package will
increase investment in nationwide bridges and roads, airports,
public transport, and national broadband internet, as well as
energy systems and waterways - safeguarding the nation for future
growth and mobility.
CLIMATE CHANGE ACTION
Following Trump’s highly controversial withdrawal from the Paris
Agreement, a landmark legally binding international treaty on
climate change adopted by 196 Parties at COP 21 in Paris, Biden
has recommitted America to the global fight against climate change
and rejoined the Paris Agreement. Through the Inflation Reduction
Act of 2022, the Biden administration also made a USD $369 billion
investment in Energy Security and Climate Change programs over
the next ten years – the largest in American history. There is hope
this climate law and investment will have a catalytic effect in
promoting a transition to clean and renewable energy.
Further at COP 27 in Egypt, Biden reiterated America’s role as a
global leader on climate change and its commitment to supporting
developing countries to tackle climate change. He affirmed his 2021
pledge to provide USD $11.4 billion annually by 2024 to assist
developing nations’ make the transition to wind, solar, and other
renewable energy sources. However, it should be noted that Biden
secured only USD $1 billion from Congress last year toward this
goal. While Biden’s remarks were met with enthusiasm and praise
at COP 27, there are undeniably hefty expectations for US action
and leadership - a mighty feat for a nation facing inflation.
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