The Infrastructure Investment and Jobs Act is not enough. Major funds are needed to make the improvements that are necessary. The best way to provide this funding is through a private financial institution.
According to Real Clear Politics, the IIJA is just a down payment. Look at the math. The headline figure is $1.2 trillion, but new spending in the bill totals only $550 billion, with the rest already committed from previous legislation. The American Society of Civil Engineers estimates that the shortfall in the nation’s total needs for surface-transportation infrastructure alone amount to $1.2 trillion through 2029. And even making that investment would bring U.S. infrastructure up to a grade of only “B” – good, but far from exceptional.