September 28, 2021

20190801-capitol-x300w.pngCritical Week For Bi-Partisan Infrastructure Bill

Her originally stated date of September 27 has come and gone, however Speaker Nancy Pelosi is expected to hold a House vote later this week on the critically important $1.2 trillion infrastructure bill known as the Infrastructure Investments and Jobs Act (IIJA). This bill largely contains funding for traditional infrastructure as we know it – roads, bridges, etc., in contrast to the other $3.5 trillion infrastructure bill which prioritizes ‘human infrastructure’ as it has come to be known, for items such as expanded social spending and “Green New Deal” initiatives.

LICA, together with the vast majority of our industry, has strongly supported and called for the passage of the $1.2 trillion bill which would provide increased funding for important infrastructure improvements and provide a much-needed boost for the economy. However, progressives have threatened to hold up the vote if they don’t get everything they want in the $3.5 trillion bill. Moderates also have concerns over the funding of the $3.5T bill, which is sure to result in tax increases for many.

Another important side note is that the $1.2 trillion package includes a new 5-year surface transportation reauthorization with significant investment increases. With the current FAST Act set to expire on September 30, if the IIJA bill fails to pass, then a short-term extension of the Act is likely, resulting in stagnant funding levels and once again, pushes important infrastructure investment policy and funding ‘down the road.’ ARTBA and its allies are working to gain support for the IIJA by illustrating the economic benefits each state would see, if the IIJA were to be enacted. Click here to see ARTBA’s IIJA state-by-state benefits dashboard.

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