START BUILDING YOUR BRIDGE TODAY888-872-7434E-mail us President Biden Signs 1.2 Trillion Bipartisan Infrastructure Bill , On August 10th the Senate passed a $1 trillion infrastructure bill intended to invest into America’s economy and roadways. The approval on the 2, 702-page bill came after months of negotiations and deficit concerns. This past Monday, President Biden signed the new bill into law. The Infrastructure Bill After passing congress in a 69-30 vote, the bipartisan $1 trillion infrastructure bill was later signed into law by President Joe Biden— providing one of the biggest investments in infrastructure in over a decade. The bill is said to encompass physical structures such as roads, bridges, waterways, and airports. And it includes around $550 billion in new spending, as well as $450 billion in previously approved infrastructure investments. The idea behind the bills’ spending allocations is to combine the urgent need to fix the country’s deteriorating infrastructure while also tackling long-term goals such as climate change. That’s not all, the hope is that a sequel of the bill will be proposed in later years. Regardless, the Congressional Budget Office still fears that the $1.2 trillion infrastructure bill would increase federal budget deficits. This assessment, however, was rejected by negotiators who argue that the CBO did not adequately consider the revenue the bill would generate. Estimated Benefits Aside from greatly improving America’s infrastructure system, another major goal is to greatly boost the economy. The bill proposes around $110 billion to replace and repair roads, bridges, and highways, and $66 billion for passenger and freight rail. This marks the most significant investment into the country’s railways for almost half a century. An additional $55 billion is intended to repair the U.S. water supply; as well as $65 billion to improve the country’s power grid. A small portion of the bill is devoted to rehabilitating waterways, improving airports, and expanding broadband Internet service. These surges of construction projects are intended to ensure new jobs across the country and a steady rise in the construction industry. In Senator Portman’s speech regarding the bill, he stated, “It will improve the lives of all Americans.” And continues with “People do expect here in America, [with] this great economy we have, we should also be able to lead the world in infrastructure. But we don’t.” The hope is that the infrastructure bill will provide the improvements necessary to revamp the country’s infrastructure. Build with U.S. Bridge U.S. Bridge is an industry leader and expert with projects and experience all around the world. Visit our blogs for more information on the construction industry or our services. Get a quote from us for your next bridge project or learn more about our steel bridges. Together, we’ll build a better future for America’s infrastructure. NOVEMBER 19, 2021/ TAGS: BRIDGE CONSTRUCTION, BRIDGE INDUSTRY, CONSTRUCTION, CONSTRUCTION INDUSTRY, CONSTRUCTION MARKET, CONSTRUCTION PROJECTS, CONSTRUCTION SAFETY, ENVIRONMENTAL FOOTPRINT, FUTURE OF CONSTRUCTION, INDUSTRY NEWS Share this entry You might also like Search CATEGORIES Bridge Design Case Study Construction Industry News Steel Uncategorized RECENT POSTS President Biden Signs 1.2 Trillion Bipartisan Infrastructure Bill Tips for Conflict Resolution in the Construction Industry Careers in Construction Month World Architecture Day 2021 A Construction Crisis Management Plan FOLLOW US ON FACEBOOK TWITTER Tweets by usbridge Instagram Load More... Connect with Us First Name First Last Email Enter Email Confirm Email State or Project Location* Sitemap Home Blog Bridges FAQ Flooring Get a Quote Railing Build Your Bridge Services English Español Contact Us 1-888-872-7434 740-439-7349 info@usbridge.com BridgeScope is a Registered Trademark Created by energyhill. Copyright © 2021 U.S. Bridge.