What does the Infrastructure Act say? Electric vehicles, clean energy, more

  • Joe Biden on Monday signed the long-awaited $ 1 trillion law on infrastructure for two parties.
  • The plan includes $ 550 billion to fund advances in public transportation, clean energy, electric vehicles and roads and bridges.
  • We took a closer look at the main areas of funding in the legislation below.

We are so sad! We encountered a system error and could not receive your email this time.

President Joe Biden on Monday signed the long-awaited $ 1,000 billion two-part infrastructure bill aimed at restoring U.S. transportation systems, combating climate change and increasing access to high-speed Internet.

The legislation is estimated to create 1.5 million jobs a year over the next decade and marks “the largest single investment in repairing and rebuilding our nation’s bridges since the construction of the interstate highway system,” according to the White House.

“My fellow Americans, today I want you to know that we hear you and we see you,” Biden said. “The bill I am about to sign into law is proof that despite the cynics, Democrats and Republicans can meet and deliver results.”

The bill passed Parliament by a vote of 228-206, with 13 Republicans in the House joining the majority of Democrats to cast key votes. While its passage marks a decisive legislative victory for the Biden administration, it also puts a grip on greater social consumption and climate bill as democratic battles between moderates and progressives continue over the high price tag.

The final version of the bill, which is 1,039 pages, includes $ 550 billion in new spending. Several of its key provisions could change the way America commutes, lives and even breathes while outdoors. Here’s how it breaks:

Roads, bridges and transit safety

The law sets $ 110 billion for roads, bridges and other projects. These investments will “focus on mitigating climate change, resilience, justice and safety for all users,” including cyclists and pedestrians, “according to a White House fact sheet. It includes:

  • $ 40 billion for bridges that would go to repairs and replacements
  • $ 17.5 billion for other “complex” major projects that are not traditionally eligible for funding
  • In addition, the agreement will allocate $ 11 billion to “transportation safety programs”, with an emphasis on pedestrians and cyclists

Trains, buses and ferries (oh my!)

The law invests in both transit infrastructure and Amtrak, President Joe Biden’s beloved form of transit.

  • $ 39 billion for public transportation, which would go to upgrade and modernize infrastructure and increase accessibility
  • $ 66 billion for rail, which includes:
    • $ 22 billion in Amtrak grants
    • $ 24 billion in grants to help modernize the Northeast Corridor (a politically important route that even has its own series of primary elections in the Northeast presidential election named after it: the Acela primaries).
    • $ 12 billion for intercity trains
    • $ 5 billion in “support for railway improvement and safety”
    • $ 3 billion for other security improvements
  • $ 2.5 billion for zero-emission buses
  • $ 2.5 billion for low-emission buses
  • $ 2.5 billion for ferries

Electric vehicles

  • $ 7.5 billion to create a network of electric car chargers across the country

Water and air

  • $ 17 billion for port infrastructure
  • $ 25 billion to airports with a focus on resolving backlogs and reducing emissions in both types of ports
  • “Over $ 50 billion” in water infrastructure, with emphasis on building resilience in the midst of climate change and cyber attacks
  • $ 55 billion for clean drinking water, which includes replacing lead pipes and addressing water pollution

Internet and power

  • $ 65 billion for high-speed broadband
  • $ 65 billion for grid modernization, which the White House says is the “largest investment in clean energy transmission in American history”

Climate change and community

  • $ 1 billion to reconstruct and rebuild infrastructure that physically divides communities, as seen in the fact that “significant parts of the interstate highway system were built through black neighborhoods”
  • $ 21 billion for “environmental remediation,” which will address vacant energy sites that are disproportionately close to colored Americans in general. The funds mark “the largest investment in addressing the old pollution,” according to the White House
  • $ 50 billion to support communities affected by the devastating effects of natural disasters such as forest fires, floods, droughts and storms that have been exacerbated by climate change.

How it is funded

The bulk of the funding to offset the cost of the package, $ 210 billion, comes from unused COVID-19 aids.

The package also spends an additional $ 87 billion in offsets from proceeds from 5G spectrum auctions, $ 53 billion from recycling unused unemployment funds, $ 49 billion from delaying the implementation of a Medicare Part D rebate rule and $ 28 billion from stricter reporting requirements for cryptocurrency transactions.

Other minor offsets include the sale of some of the U.S. strategic oil reserves, the reintroduction of fees for superfunds, continued fees on state-sponsored entities (such as Freddie Mac and Fannie Mae), expansion of customers’ user fees, expansion of the mandatory sequester, and retirement equalization.

Leave a Comment