THE PRESIDENT: Thank you very much. Well, good afternoon, folks.
Our nations and our world are at a real turning point in history. Technology has made our world smaller, more direct and more connected. It has created incredible opportunities, but also accelerated challenges that affect us all: managing global energy needs, tackling the climate crisis, coping with the spread of disease.
And the choices we make now, I believe, will shape the direction of our world for generations to come.
These challenges are difficult for all of us, even for countries with G7 resources. But developing countries often lack the essential infrastructure to cope with global shocks, such as a pandemic. So they feel the impact more sharply and have more trouble recovering.
In our deeply connected world, that’s not just a humanitarian concern, it’s an economic and security concern for all of us.
That’s why a year ago, when this group of leaders gathered in Cornwall, we made a commitment: the democratic nations of the G7 would rise – step up and provide funding for high-quality, high-quality, sustainable infrastructure in developing and middle-income countries.
What we do is fundamentally different because it is based on our shared values of all those who represent the countries and organizations behind me. It is built using the global best practices: transparency, partnership, protection for labor and the environment.
We provide better options for countries and people around the world to invest in critical infrastructure that improves lives – their lives, our entire lives – and delivers real benefits to all of our people, not just the G7 – all of our people.
Today we officially launch the Partnership for Global Infrastructure and Investment. Together we have dozens of projects running all over the world.
And I’m proud to announce that the United States will mobilize $200 billion in public and private capital over the next five years for that partnership.
We are here today as we make this commitment together as a G7 in coordination with each other to maximize the impact of our work.
Collectively, we aim to mobilize nearly $600 billion from the G7 by 2027.
These strategic investments are critical to sustainable development and to our shared global stability: health and health security, digital connectivity, gender and equity, climate and energy security.
Let me give you some examples of the kind of projects underway in each of these areas.
First, health. Two years ago, COVID-19 – needing no reminder of how crucial investment in healthcare systems and health sector – and health security is, both to fight the pandemic and prepare for the next one, because it won’t be. the last pandemic that we’re under- — we’re dealing with.
That is why the United States, together with the G7 partners and the World Bank, are investing in a new industrial-scale vaccine production plant in Senegal. When completed, it will have the potential to produce hundreds of millions of doses of vaccines annually for COVID-19 and other diseases.
It is an investment that will increase global vaccine stocks and improve access and equity for developing countries.
Second, in the digital field. The future of our economies increasingly depends on people’s ability to connect to secure information and communication technologies. And we must strengthen the use of trusted technologies so that our online information cannot be used by autocrats to consolidate their power or oppress their people.
That’s why the Digital Invest program is mobilizing $335 million in private capital to deliver secure network equipment in Africa, Asia and Latin America.
And the US government also backed the successful bid by a US company, SubCom, for a $600 million contract to build a global submarine telecommunications cable. This cable will extend from Southeast Asia, through the Middle East and the Horn of Africa, to Europe.
This will be essential to meet the growing demand for reliable security and high-tech connectivity in three key regions of the world.
Third, gender. When women and girls have the ability and opportunity to participate — to participate more fully in those societies and economies, we see positive effects, not just in their communities, but across the board — across the board.
However, we need to increase those opportunities for women and girls, including practical steps to make childcare more accessible and affordable, while continuing the vital work to protect and promote women’s fundamental rights.
The United States is allocating $50 million in five years to the World Bank’s global Childcare Incentive Fund. This public-private partnership, supported by several G7 partners, will help countries build infrastructure that makes it easier for women to participate equally – equally – in the workforce.
Fourth and very important, climate and energy. We see every day how important this is. The whole world is feeling the impact of Russia’s brutal war in Ukraine and on our energy markets.
We need global efforts to invest in transformative clean energy projects to ensure critical infrastructure can withstand changing climate.
Critical materials needed for our clean energy transition, including battery production, must be developed with high labor and environmental standards.
Fast and reliable transport infrastructure, including railways and ports, is essential for moving inputs for refining and processing and expanding access to clean energy technologies.
For example, the US government has just enabled a new partnership between two US companies and the government of Angola to invest $2 billion in building new solar energy projects in Angola. It is a partnership that will help Angola meet its climate goals and energy needs while creating new markets for US technologies and good jobs in Angola and, I suspect, across Africa.
And in Romania, the American company NuScale Power will build a first of its kind small modular reactor plant. This will help bring zero-emission nuclear energy to Europe faster, cheaper and more efficiently.
The US government is helping to promote the development of this groundbreaking US technology, which will strengthen Europe’s energy security and create thousands of jobs in Romania and the United States.
These deals are just some of what’s in store. And we’re done. We are ready to go to work, together, all of us.
To lead the effort—to lead the American effort, in my case—appointed—I appointed Amos Hochstein, my Special Presidential Coordinator, to deal with the rest of our colleagues.
[He] will lead the US-wide approach to coalition and cooperation with the G7 and our partners around the world, including the private sector and multilateral development banks.
I want to be clear: this is not aid or charity; it is an investment that will pay off for everyone, including the American people and the people of all our nations. It will boost all of our economies, and it’s an opportunity for us to share our positive vision for the future and help communities around the world see themselves – and see for themselves the tangible benefits of partnering with democracies.
Because if democracies show what we can do, everything we have to offer, I have no doubt that we will win the competition every time.
Thank you. And now I invite President von der Leyen to the podium.
What is the $300 child tax credit?
U.S. Department of the Treasury Eligible families received a payment of up to $300 per month for each child under age 6 and up to $250 per month for each child aged 6 to 17. To see also : Travel to the United States during Covid-19: Things you need to know before you leave.
What is a $300 tax credit? The IRS currently has a special tax rule that allows Americans to deduct certain charitable donations from their 2021 taxes, lowering their tax liability and translating into savings. Single filers can deduct up to $300; married couples filing jointly can deduct up to $600.
What is the $300 monthly child tax credit?
During the 2021 tax year, the U.S. bailout plan passed last March gave eligible parents $300 per month for every child under 6 and $250 for every child aged 6 to 17, including children who turned 17 in 2021.
How does the $300 child credit work? On the same subject : International attitudes towards the USA, NATO and Russia in times of crisis.
The rest of the year, additional payments are made monthly. The monthly advance payments are $300 per child under 6 years of age and $250 per child 6 to 17 years of age. In total, the child tax credit was increased from $3,000 to $3,600 per child out of the existing $2,000 for eligible families.
Is the child tax credit $300 per child?
The American Rescue Plan Act extends the child tax credit for tax year 2021. The maximum credit amount has been increased to $3,000 per eligible child between the ages of 6 and 17 and $3,600 per eligible child under the age of 6.
Who gets $300 child credit?
Your income is too high For 2021, the child tax credit is worth $3,000 per child for children ages 6 to 17 and $3,600 per child for children aged 5 or under. This may interest you : Cameron Smith: If you want to understand politics, train for a foster parent. That translates to maximum monthly payments of $250 per child or $300 per child, respectively.
Will families get $300 per child?
Monthly payments of $300 are in the works for California families struggling to make ends meet. The IRS will begin rolling out the child tax credit on July 15 as part of the US bailout plan. Qualified households receive up to $3,600 per child annually, which will benefit families across the state.
Is the child tax credit $300 per child?
The American Rescue Plan Act extends the child tax credit for tax year 2021. The maximum credit amount has been increased to $3,000 per eligible child between the ages of 6 and 17 and $3,600 per eligible child under the age of 6.
Are parents getting 300 per child?
Each month, depending on income level, parents of children ages 5 and under received up to $300 and parents of children ages 6 and 17 received up to $250. That’s a total of $3,600 for each child under age 6, and $3,000 per year for each older child (aged 6 to 17).
How much will each child get for the child tax credit?
The US bailout plan expanded the child tax credit for 2021 to get more aid to more families. The credit increased from $2,000 per child in 2020 to $3,600 in 2021 for each child under the age of 6. Likewise, it has been increased from $2,000 to $3,000 for each child ages 6 to 16.
Who are in the G7?
The G7 is an informal grouping of seven of the world’s advanced economies: Canada, France, Germany, Italy, Japan, the United Kingdom, the United States and the European Union.
Who are the leaders at the G7 summit?
Is Russia a member of G8?
In March 2014, Russia was expelled from the Group of 8 for its involvement in the 2014 Crimean crisis in Ukraine, so the G8+5 is unlikely to meet again with Russia in its original form.
When did Russia become part of the G8? In 1997, Russia joined, creating the Group of 8 (G8). The European Union also participates in the G8 and is represented by the Presidents of the European Council and the European Commission.
Which countries are G8 countries?
Group of Eight, formerly and later Group of 7 (G7), intergovernmental organization formed in 1975 by informal summits of the leaders of the world’s leading industrialized countries (the United States, United Kingdom, France, West Germany , Italy, Canada and Japan).
Why are they called G8 countries?
The Group of Eight (G8) was an intergovernmental political forum from 1997 to 2014. It was formed by including the country Russia in the Group of Seven, or G7, and returned to its old name after Russia was expelled in 2014.
What is the Build Back Better Act 2021?
Passed House (19/11/2021) This bill provides funding, establishes programs, and otherwise changes provisions related to a wide variety of areas, including education, labor, childcare, health care, taxation, immigration and the environment. (The bill is commonly referred to as the Build Back Better Act.)
Has the Build Back Better Act been passed? The bill was passed by the House of Representatives 220-213 on November 19, 2021. To provide reconciliation under Title II of S. Con.
What is the Build America Act 2021?
Introduced in House (01/06/2021) This bill directs the Department of Transportation (DOT) to implement a national infrastructure investment grant program for capital investment in surface transportation infrastructure.
What is the standup act of 2021?
WASHINGTON, D.C. — Today President Biden signed Rep. Scott Peters’ (D-CA-52) STANDUP Act, which will encourage schools to implement evidence-based suicide prevention training for students in grades 6 through 12.
What is the Build America Act?
The Build America, Buy America Act (BABAA) requires all federal agencies, including FEMA, to ensure that no federal funding is provided for “infrastructure projects” by May 14, 2022, unless all iron, steel, manufactured products, and building materials used in the project are produced in the…
What is the purpose of build back better plan?
The Build Back Better Plan (BBB) was a $1.7 trillion package that proposed to fund a range of social investments, from lowering education and health care costs to extending the expanded child tax credit.
What does build back better refer to?
Building Back Better (BBB) is a strategy aimed at reducing risk to the people of countries and communities in the aftermath of future disasters and shocks.
What happened to the build back better bill?
After negotiations, the price was lowered to about $2.2 trillion. The bill was passed by the House of Representatives 220-213 on November 19, 2021. To provide reconciliation under Title II of S. Con.
What is the bill number for Build Back Better Act?
5376 – Build Back Better Act 117th Congress (2021-2022)
What is the Build America Act?
The Build America, Buy America Act (BABAA) requires all federal agencies, including FEMA, to ensure that no federal funding is provided for “infrastructure projects” by May 14, 2022, unless all iron, steel, manufactured products, and building materials used in the project are produced in the…
What is in the build back better plan?
President Biden’s Build Back Better Plan would invest in training initiatives to help the millions of American workers create quality employment opportunities in growing areas through quality career and technical training pathways and registered apprenticeships.
What is Buildback better principle?
“Build Back Better” represents an ideal rebuilding and recovery process that delivers resilient, sustainable and efficient recovery solutions to disaster-affected communities. The motivation behind the Build Back Better concept is to make communities stronger and more resilient after a disaster.
What is the ‘build back better’ concept? BBB Definition We define Building Back Better (BBB) as a holistic concept that uses post-disaster reconstruction and recovery as an opportunity to improve a community’s physical, social, environmental and economic conditions to function in an effective and efficient manner. create a more resilient community [1 ].
Why build back better is important?
The Build Back Better Act is making the transformative investments at the scale needed to meet the needs of the American people, address dangerous deficits in our societies, improve our economic prospects, and prepare America to compete and thrive. gain in the coming decades.
How does build back better help families?
The framework introduced by President Biden and the accompanying bill drafted by House Democrats provide an opportunity to increase the economic stability of families and reduce racial inequalities in income, housing, education and health care that affect black, Latino and disproportionately harm indigenous children.
What is the purpose of build back better plan?
The Build Back Better Plan (BBB) was a $1.7 trillion package that proposed to fund a range of social investments, from lowering education and health care costs to extending the expanded child tax credit.
What countries are in G8?
Committed to addressing global problems such as hunger, security, medicine and poverty in the world, membership included the following countries:
- France.
- Germany.
- Italy.
- Japan.
- United Kingdom.
- United States.
- Canada.
- Russia.
Does the G8 still exist? Members are Canada, France, Germany, Italy, Japan, United Kingdom and United States. In addition, the presidents of the European Council and the European Commission represent the EU at G-7 summits. In 1998, Russia joined the club, making it the G-8, but it was expelled in 2014 after the annexation of Crimea.
Is China a member of G8?
Global Energy One year later, on June 8, 2008, the G8, together with China, India, South Korea and the European Community, established the International Partnership for Energy Efficiency Cooperation, at the Energy Ministerial Meeting organized by Japan, which held the G8 presidency in 2008, in Aomori.
Is China part of G8?
The Group of Eight Five (G8 5) was an international group composed of the leaders of the heads of government of the G8 countries (Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States), plus the heads of government of the five major emerging economies (Brazil, China, India, …
Is China a part of the G7?
The Group of Seven (G7) is an intergovernmental political forum composed of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. In addition, the European Union is an ‘unlisted member’.
