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Biden Proposes Billions for Cybersecurity After Wave of Attacks
Posted
May 18, 2021
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1:02Now PlayingPresident Joe Biden’s infrastructure proposal includes billions of dollars tied to improving cybersecurity, an area of intensified interest after the ransomware attack on the Colonial Pipeline Co. sent U.S. gasoline prices soaring last week.
But the exact amount that will be spent on improving cyber defenses remains to be seen.
The $2 trillion American Jobs Plan, as the infrastructure proposal is known, includes $20 billion for state, local and tribal governments to modernize their energy systems contingent upon meeting cybersecurity standards, as well as $2 billion for grid resilience in high-risk areas that will be contingent on meeting cybersecurity targets, the White House said in a fact sheet obtained by Bloomberg News ahead of its release Tuesday.
President Biden Delivers Remarks On Colonial Pipeline
Joe BidenPhotographer: T.J. Kirkpatrick/The New York Times/Bloomberg
The administration is also characterizing the plan’s call for $100 billion for high-speed broadband access as part of its wider security effort, since grant recipients will be asked to source from “trusted vendors” and implement cybersecurity measures. In addition, the plan lays out a new tax credit for transmission infrastructure that the administration believes will encourage stronger cyber capabilities.
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