Weekly Brief: Biden Infrastructure Bill

Congress passed a $1.2 trillion infrastructure package Friday, approving a signature part of President Joe Biden's economic agenda. It will deliver approximately $550 billion of new federal investments in America's infrastructure over five years, touching everything from bridges and roads to the nation's broadband, water, and energy systems.

The 2,702-page bipartisan bill, which has not changed, contains just $550 billion in new spending. The $1.2 trillion figure comes from including additional funding normally allocated each year for highways and other infrastructure projects. The new spending consists of:

​USD (in billions)	​Content
​110	Roads and bridges
​66	​Railroads
​65	​Power grid
​65	​Broadband
​55	​Water infrastructure
​47	​Cybersecurity and climate change
​39	​Public transit
​25	​Airports
​21	​Environment
​17	​Ports
​11	​Safety
​8	​Western water infrastructure
​7.5	​Electric vehicle charging stations
​7.5	​Electric school buses

The nonpartisan Congressional Budget Office estimated that this spending bill would add $256 billion over the next 10 years to the US deficit - though it didn't take into account revenue that could come from these infrastructure projects or the pandemic funds states could return.

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References:

PHOTO --> CNN

Lobosco, K., & Luhby, T. (2021, November 6). Here's what's in the bipartisan infrastructure bill. CNN. https://edition.cnn.com/2021/07/28/politics/infrastructure-bill-explained/index.html.

Probasco, J. (2021, November 7). Bipartisan Infrastructure Bill passes, what happens next. Investopedia. https://www.investopedia.com/here-s-what-s-in-the-usd1-trillion-infrastructure-bill-passed-by-the-senate-5196817.