TAEBC signs on to updated $150 billion stimulus proposal sent to new Administration

Last year, the Tennessee Advanced Energy Business Council signed on to a $150 billion stimulus proposal, spearheaded by the Transportation Electrification Partnership (TEP), a national coalition of cleantech companies and organizations, and the Los Angeles Cleantech Incubator (LACI). 

On March 30, 2021, the coalition sent a new letter to Congress and the Biden Administration, updating the White House and relevant agencies on its proposals and voicing support for President Joe Biden’s American Jobs Plan, which is in line with the coalition’s priorities.

The updated proposal reflects the Biden Administration’s Build Back Better Plan. The goal of the $150 billions stimulus is job creation in manufacturing, infrastructure, and innovation to help boost the economy post pandemic, reduce air pollution, improve public health, protect vulnerable populations, and build climate resilience. Under the updated proposal, an estimated 2.3 million jobs would be created while helping America build its leadership on electric vehicle manufacturing, supply chain, and deployment. 

According to the updated proposal, recommended actions include:

  1. $25 billion investment in the assembly and adoption of electric and zero emissions vehicles along with supply chain development (e.g., producing domestic lithium for batteries, etc.);
  2. $85 billion for EV charging and related infrastructure investment;
  3. $25 billion for zero emissions public transit, active transit and safe streets;
  4. $12.5 billion for workforce development, safety standards and job training; and
  5. $2.5 billion in innovation ecosystems for cleantech startups and related small businesses, prioritizing those created by underrepresented founders.

Since TAEBC originally signed on, the TEP coalition supporting the stimulus proposal has grown to include over 100 organizations in 18 states across the country. 

Learn more about TAEBC’s response to the new Administration’s transportation infrastructure plan here.