Earlier this month the United States House of Representatives passed the US Senate’s Infrastructure Investment and Jobs Act sending it to President Biden’s desk to sign. What happens next and where will the money go? Now, multiple Federal Agencies take action to organize and ensure the money is sent to the correct departments and projects to fulfill the intention of the new act. Will spending be focused in your industry? Let’s see where the bill intends to send funds.
According to the White House website, funds will be set aside as planned:
-$55 billion to expand access to clean drinking water
-$65 billion to expand every American’s access to high speed internet
-$110 billion to repair roads and bridges across the United States
-$39 billion to update and modernize public transit
-$17 billion to update and expand port infrastructure
-$25 billion to update airports
-$66 billion in rail funding and maintenance
-$65 billion into power infrastructure including investment into adding clean energy to our grids
-$50 billion to protect against droughts, heat, floods, and wildfires
There is a lot to look forward to here. For full details, please visit Congress’s website and view H.R.3684 Infrastructure Investment and Jobs Act.