11 Jan Infrastructure for the Win. Click to keep reading…
A $1.2 trillion dollar Federal investment in infrastructure was recently approved by Congress. It’s the largest investment of this kind in decades. Here’s a few highlights related to how the money will be spent:
- $110 billion for roads and bridges. Bridges alone will get $40 billion.
- $66 billion for passenger and freight rail
- $65 billion to modernize the electric grid
- $55 billion for a new water infrastructure
- $39 billion for new public transit projects
- $25 billion for airport upgrades
- $7.5 billion for an electric vehicle charging station expansion
- Billions for the cleanup of industrial sources of legacy pollution
State governments will be the recipients of the Federal distribution, with California receiving $45 billion in infrastructure dollars. The bill also attempts to limit the amount of red tape involved in implementing projects, which tend to drive the costs of improvements sky high. The bill will provide a modest boost to U.S. GDP – about a quarter of a percent per year for the next ten years. It’s expected that the spending will help to create 800,000 jobs and improve long-term economic productivity, if the money is allocated and spent wisely.
Learn more on congress.gov.