New Infrastructure Bill Means New Projects
On November 6th, 2021 the bipartisan infrastructure bill was sent to President Joe Biden to sign into law. Infrastructure refers to the underlying foundation or framework of a system or organization. When used in the context of government programs, it usually describes roads, bridges, railways, and ports that provide the transportation network of a nation, state, or local area. This $1.2 trillion package is for the improvement of highways and bridges, mass transit, rail, and implements new safety requirements across all transportation modes. It further addresses the issue of climate change, broadband access in rural areas, as well as other social infrastructure.
Here is a quick synopsis of the bill:
Roads and Bridges-the bill provides $110 billion to repair the nation’s aging highways, bridges, and roads. This is the single largest dedicated bridge investment since the construction of the national highways system.
Public Transit- $39 billion to expand transportation systems, improve accessibility for people with disabilities, address the repair backlog, and purchase zero-emission and low-emission buses.
Passenger and Freight Rail- $66 billion to address rail maintenance backlog and improve rail services.
Airports- $25 billion to improve runways, gates, taxiways, and terminals at airports. It would also improve aging air traffic control towers.
Water and Wastewater- $55 billion to replace lead pipes and address water contamination.
Electric Vehicles- $7.5 billion for electric vehicle charging stations of which are critical to accelerating the use of lower emission vehicles to address climate change. This will also include the purchase of electric school buses and hybrids to replace vehicles running on diesel fuel.
Internet Access- $65 billion for broadband access to improve internet services for rural areas, low-income families, and tribal communities.
Electric Grid- $65 billion to improve the reliability and resiliency of the power grid.
For a more detailed breakdown of the bill see Investopedia’s article: Understanding the Infrastructure Bills
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