Another big legislative win crossed the line for Biden’s agenda late this Friday night: the $1.2T bipartisan infrastructure bill passed the House with 6 Democrats dissenting and a whopping 13 Republicans joining to finally bring Infrastructure Week to the American people. Still to come is the other partner to the twin bills circulating in Congress, the Build Back Better reconciliation bill that would add another $2T to the most Keynesian U.S. budget in decades.
Nevertheless, the bill is largely paid for via various means including adding significantly to economic growth and GDP over the next 10 years. The Biden infrastructure bill will not raise taxes on any families making less than $400,000, a campaign promise the president consistently made and has now delivered upon.
The bipartisan infrastructure bill is the second significant piece of legislation passed under Biden’s tenure in the White House, following the $1.9T American Rescue Plan back in March to successfully tame the covid-19 pandemic.
Infrastructure Bill 2021: Breakdown
What’s in the bill? A slate of sorely needed national funds to modernize our transportation, energy, and broadband systems, including provisions for increasing renewables and lowering emissions on a large scale to combat climate change. Here’s a list of what’s included in the largest single infrastructure investment in American history:
- $110B for roads, bridges, & other infrastructure
- $11B for transportation safety
- $39B to modernize public transit, including replacing 1000s of vehicles with zero-emission models
- $66B to modernize passenger and freight rail
- $12B for high-speed rail
- largest federal investment in public transit in history
- $65B in broadband
- $42B in airports and ports, including emissions reduction and low-carbon technologies
- $7.5B for 0- and low-emissions buses (including school buses) and ferries
- $7.5B for national network of EV chargers
- $65B to rebuild the electric grid
- $55B to upgrade water infrastructure
- $50B to critical infrastructure cybersecurity
- $21B to clean up toxic waste