An unpacking of Biden’s infrastructure package.
According to Reporter, the $1.2 trillion bill addresses federal aid programs for highways, transit, research and rail programs, among other things. Included alongside those programs is around $550 billion in new spending that will be put towards infrastructure development over the next decade. While proponents of the bill maintain that these changes will be paid for by new revenue and repurposed, unspent funding, the Congressional Budget Office has estimated that the legislation will cost a net $256 billion over the course of ten years.
According to the fact sheet released by the White House briefing room, this new spending includes: $110 billion towards repairing roads, bridges and other large projects. The bill also includes the Safe Streets and Roads for All program to support projects to reduce traffic fatalities.
$89.9 billion in guaranteed funding for public transportation programs over the next five years. This includes $39 billion in new investments to upgrade America’s transit infrastructure. $66 billion to upgrade and maintain the country’s railroad systems. More than $65 billion towards investments in clean energy transmission and increasing the resilience of America’s power grid. This money will also fund programs to develop and deploy new clean-energy technologies.
$65 billion towards expanding broadband service across the country to ensure every American has access to reliable internet, especially in rural communities. $55 billion towards expanding access to clean drinking water, including pushes to eliminate lead service pipes and efforts to improve the water infrastructure in Tribal Nations and disadvantaged communities.