$1T Infrastructure Bill — the breakdown
What’s happening: Over the weekend, Congress passed the Bipartisan Infrastructure Deal (Infrastructure Investment and Jobs Act), a once-in-a-generation investment in America’s infrastructure and competitiveness.
Some background: This Bipartisan Infrastructure Deal will rebuild America’s roads, bridges and rails, expand access to clean drinking water, ensure every American has access to high-speed internet, and more. Combined with the President’s Build Back Framework, it will add on average 1.5 million jobs per year for the next 10 years.
Let’s break it down:
🚰 $55B to expand access to clean water and eliminate lead service lines. Today, nearly 10M American households and 400,000 schools lack safe drinking water.
🛰 $65B investment in broadband infrastructure deployment to ensure every American has access to reliable high-speed internet. Today, more than 30M Americans live without access to high-speed internet.
🌉 $110B to repair thousands of roads and bridges, and support projects to reduce traffic fatalities (which killed more than 20,000 people in 1H 2021).
🚌 $90B to modernize transit, replacing thousands of deficient transit vehicles with clean, zero emission vehicles, and improve accessibility for the elderly and people with disabilities. Today, America has a multibillion-dollar repair backlog, including more than 24,000 buses, 5,000 rail cars, and 200 stations.
🚢 $42B ($17B to port infrastructure, and $25B to airports) to address repair and maintenance backlogs, reduce congestion and emissions, and drive electrification and other low-carbon technologies.
🚅 $66B to eliminate Amtrack maintenance backlog, modernize the Northeast Corridor, and bring world-class rail service to much of the US.
⚡️ $7.5B to build out a national network of 500,000+ EV chargers to accelerate the adoption of EVs, reduce emissions, improve air quality, and create good-paying jobs across the country.
🔌 $65B to upgrade power infrastructure, building thousands of miles of new, resilient transmission lines. Power outages cost the US economy up to $70B annually.
🔥 $50B to protect against droughts, heat, floods, and wildfires, along with a major investment in weatherization. Last year, the US faced 22 extreme weather and climate-related disasters with losses reaching $100B.🗑 $21B to clean up Superfund and brownfield sites, reclaim abandoned mine land and cap orphaned oil and gas wells.
How will it be paid for?
Some big sources:
🦠 $200B in repurposed, unused funds originally intended for coronavirus relief
🏥 $50B from delaying a Trump-era rule on Medicare rebates
📄 $50B from certain states returning unused unemployment insurance supplemental funds.
👾 $30B from applying information-reporting requirements for cryptocurrency
💰 $60B from economic growth spurred by the spending
📡 $87B from past and future sales of wireless spectrum space.
Dive Deeper:
A fantastic breakdown of how construction costs in the US compare to the rest of the world. One interesting fact: GDP per capita is 82,000 USD in Switzerland, vs 3893 in Indonesia, a 20x difference.
Project details for the $2B Capital Beltway High Occupancy Toll that shows the sheer magnitude of public-private partnerships. 14 miles, 6 lanes. Flour+Transurban (private co's) design, build, operate, and maintain the toll for 75 years. In exchange, they are paid in toll revenue.
Some background: This Bipartisan Infrastructure Deal will rebuild America’s roads, bridges and rails, expand access to clean drinking water, ensure every American has access to high-speed internet, and more. Combined with the President’s Build Back Framework, it will add on average 1.5 million jobs per year for the next 10 years.
Let’s break it down:
🚰 $55B to expand access to clean water and eliminate lead service lines. Today, nearly 10M American households and 400,000 schools lack safe drinking water.
🛰 $65B investment in broadband infrastructure deployment to ensure every American has access to reliable high-speed internet. Today, more than 30M Americans live without access to high-speed internet.
🌉 $110B to repair thousands of roads and bridges, and support projects to reduce traffic fatalities (which killed more than 20,000 people in 1H 2021).
🚌 $90B to modernize transit, replacing thousands of deficient transit vehicles with clean, zero emission vehicles, and improve accessibility for the elderly and people with disabilities. Today, America has a multibillion-dollar repair backlog, including more than 24,000 buses, 5,000 rail cars, and 200 stations.
🚢 $42B ($17B to port infrastructure, and $25B to airports) to address repair and maintenance backlogs, reduce congestion and emissions, and drive electrification and other low-carbon technologies.
🚅 $66B to eliminate Amtrack maintenance backlog, modernize the Northeast Corridor, and bring world-class rail service to much of the US.
⚡️ $7.5B to build out a national network of 500,000+ EV chargers to accelerate the adoption of EVs, reduce emissions, improve air quality, and create good-paying jobs across the country.
🔌 $65B to upgrade power infrastructure, building thousands of miles of new, resilient transmission lines. Power outages cost the US economy up to $70B annually.
🔥 $50B to protect against droughts, heat, floods, and wildfires, along with a major investment in weatherization. Last year, the US faced 22 extreme weather and climate-related disasters with losses reaching $100B.🗑 $21B to clean up Superfund and brownfield sites, reclaim abandoned mine land and cap orphaned oil and gas wells.
How will it be paid for?
Some big sources:
🦠 $200B in repurposed, unused funds originally intended for coronavirus relief
🏥 $50B from delaying a Trump-era rule on Medicare rebates
📄 $50B from certain states returning unused unemployment insurance supplemental funds.
👾 $30B from applying information-reporting requirements for cryptocurrency
💰 $60B from economic growth spurred by the spending
📡 $87B from past and future sales of wireless spectrum space.
Dive Deeper:
A fantastic breakdown of how construction costs in the US compare to the rest of the world. One interesting fact: GDP per capita is 82,000 USD in Switzerland, vs 3893 in Indonesia, a 20x difference.
Project details for the $2B Capital Beltway High Occupancy Toll that shows the sheer magnitude of public-private partnerships. 14 miles, 6 lanes. Flour+Transurban (private co's) design, build, operate, and maintain the toll for 75 years. In exchange, they are paid in toll revenue.
