On Monday, President Biden signed the $1.2 trillion bipartisan Infrastructure Investment and Jobs Act into law. The measure will deliver $550 billion in new federal spending over 5-years and will direct $650 billion in already appropriated dollars into new and existing funding programs for project development that includes:
- Modernizing electric utility grids;
- Building and repairing roads, bridges, and major infrastructure projects;
- Developing critical minerals;
- Upgrading railways;
- Deploying climate resiliency and environmental remediation projects;
- Upgrading and expanding broadband;
- Updating water systems, including lead pipe removal;
- Expanding electric public transportation and charging station infrastructure;
- Establishing transportation projects in rural areas; and
- Revitalizing airports, ports, and waterways.
The full text of the Infrastructure Investment and Jobs Act can be found here.