The Infrastructure Investment and Jobs Act (the “bill”) is historic and transformational legislation that, when it becomes law, will make available $1.2 trillion in funding for infrastructure programs across the transportation, energy and water sectors, through a combination of grants, loans and tax incentives. Of the $1.2 trillion in spending, $550 billion is new federal spending not previously authorized. The bill also reauthorizes the highway, public transportation and rail programs for five years.