Saying “America is shifting once more, and your life goes to vary for the higher,” President Joe Biden on Monday signed into regulation a $1.2 trillion infrastructure bundle that funds public works tasks that would contact each a part of the nation. The brand new regulation will present cash for all the pieces from bridge restore and new transit techniques to increasing high-speed web into areas that lack dependable broadband.
The brand new infrastructure regulation will not authorize one other spherical of stimulus checks or prolong the advance youngster tax credit score funds (that extension might are available a unique invoice later this yr — see under for extra particulars), however the brand new Infrastructure Investment and Jobs Act of 2021 will deal with big-ticket public-works tasks.
This new regulation has been within the works since June. It is utterly completely different from the Build Back Better Act, which Congress continues to work on and will embrace cash for extra youngster tax credit score checks, housing, well being care and youngster care credit — what some name “human infrastructure.”
For now, this is what the brand new infrastructure regulation Biden signed on Monday might imply for you. And this is the most recent on, the most recent on the and the .
Faster internet across America
A big focus on the infrastructure law — and a good part of the funding — will go to extendingand helping low-income families .
The budget: $65 billion
What the money is for: Along with building high-speed internet in areas that lack reliable access, the law would require providers to offer an affordable plan for low-income families. The law will set aside $14 billion to help low-income families pay for the cost of an internet connection, extending emergency broadband subsidies the government put in place during the pandemic.
New and repaired roads, highways and bridges
The single biggest spending item in the law is earmarked for the nation’s roads and bridges.
The budget: $110 billion
What the money is for: According to the White House, 173,000 miles of the country’s highways and major roads as well as 45,000 bridges are in poor condition. The law will set aside almost $40 billion just for bridge repair and replacement.
Electric vehicle investment, including a national network of charging stations
The law will invest in electric vehicles, including buses and a chain of EV chargers along the nation’s highways. (As part of the push for electric vehicles, Congress this year intends to offer.)
The budget: $15 billion
What the money is for: $7.5 billion will go to building out a national network of EV chargers along highways. Other money will go to EV buses — including school buses — and ferries.
Safer, more modern airports
The law sets aside money for airport maintenance and improvements.
The budget: $25 billion
What the money is for: To repair and upgrade runways and gates and modernize terminals and air traffic control towers.
Another big-ticket item is money to pay for improvements to the nation’s water system.
The budget: $55 billion
What the money is for: Among the areas the law will address, it will fund lead pipe replacement across the country and build out water infrastructure in tribal and low-income communities.
Upgrade power grid
The White House said power outages cost the US economy up to $70 billion annually.
The budget: $73 billion
What the money is for: Updating the nation’s power grid by replacing older power lines and cables and investing in clean-energy research.
Expand public transit
The White House said 24,000 buses, 5,000 rail cars and 200 transit stations are in need of repair.
The budget: $39 billion
What the money is for: Improvements to the country’s transit system, including bus and subway car repairs. The law would also fund transit system improvements and extend transit to more riders.
For more, here’s what we know about where the Biden administration stands on, which parts of the country are and more on how the new law will address .