After weeks of negotiations, the U.S. Senate has officially passed the Infrastructure Investment and Jobs Act. This bipartisan bill includes $550 billion in new federal investments to the country’s infrastructure and will add an estimated two million
jobs per year to the national economy. Now, the bill awaits House ratification or reconciliation before proceeding.
The Infrastructure Investment and Jobs Act makes a series of significant investments into America’s basic infrastructure systems. A snapshot of the investments include:
- $124 billion for roads and bridges;
- $66 billion investment in rail, with $12 billion dedicated to partnership grants for intercity rail service;
- $23.4 billion for Clean Water and Drinking Water State Revolving Funds over five years;
- $10 billion in grants over five years to address emerging contaminants and PFAS drinking water contamination;
- $42 billion for the Broadband Equity, Access and Deployment Program; and
- $1 billion for Enabling Middle Mile Broadband Infrastructure.
As we reported earlier this week, the package is financed from assumptions of increased economic activity (new construction
jobs and business growth), a “recapture” and repurposing of untapped COVID-19 relief aid, and unemployment assistance that was turned back by some states.
The investments in the Investment and Jobs Act echo many of our member cities’ priorities throughout the last ten years. We will continue to report on the status of the proposal as it moves through the congressional process. In the meantime, you
can find more information about the bill and track its progress with National League of Cities.