On July 28, the Senate agreed, 67-32, to begin debate on a $1.2 trillion bipartisan infrastructure package. Ahead of the vote, the bipartisan group of senators announced it had resolved all major issues on the package.
As a result of this initial vote, the Senate will consider the package over the coming days and, perhaps, weeks. However, an actual legislative bill detailing what is in the package has yet-to-be released or formally introduced as of July 29. When a bill is introduced in the Senate and, if passed, the bill will head to the House of Representatives for consideration. A 57-page summary of the bipartisan infrastructure package notes how it includes funding for a host of traditional, physical infrastructure. AGC appreciates and has fought for the significant levels of investment in the package and awaits actual legislative text before considering a formal association endorsement.
Highways, Roads, and Bridges
- The package incorporates the AGC-endorsed, Senate Environment and Public Works Committee passed Surface Transportation Reauthorization Act, a $311 billion bill that would reauthorize federal-aid road and bridge programs for 5 years. This bill represents a 30% increase in road funding over current levels (AGC summary here).
- The package also includes an additional $110 billion of new spending on top of reauthorization for highways, roads, and bridges, including:
- $55.48B in additional contract authority.
- $55.52B in additional funding for a host of programs, such as the Bridge Investment Program, USDOT RAISE and INFRA grants, Private Activity Bonds, and more.
- The package incorporates an extension of currently authorized federal transit policy and funding levels.
- An additional $39.15 billion for transit programs on top of the extension.
- $19.15B in additional contract authority
- $4.75B of additional funding for State of Good Repair Grants
- $8B of additional funding for Capital Investment Grants
- $7.25B for other programs
Freight and Passenger Rail
- The package includes the Senate Commerce Committee passed Surface Transportation Investment Act, a $78 billion reauthorization of federal freight and passenger rail programs.
- An additional $66 billion in new spending on top of the reauthorization, including:
- $6B in additional spending for Northeast Corridor grants
- $36B for Federal-State Partnership Intercity Passenger Rail funding
- $16 in addition funding for Amtrak
- $5B for Consolidated Rail Infrastructure and Safety Improvement program
- $53B in other related spending
Other Relevant Funding
- Ports and Waterways- $17.3 billion
- Airports- $25 billion in new spending for airport infrastructure, including:
- $20B for airside (runway, taxiway, and terminal) projects
- $5B for air traffic control infrastructure
- Drinking and Waste Water- $55 billion
- Power Grid- $73 billion
- Broadband Infrastructure- $65 billion
- Resiliency- $46 billion
In total, this $1.2 trillion package includes $550 billion in new spending, with the remainder made up of reauthorizations of current infrastructure programs. The $550 billion in new spending is paid for through a host of sources, including repurposed COVID-relief funding, refunded and fraudulently paid unemployment benefits, and extending or reinstating a host of other governmental fees.
AGC is encouraged by this historic investment in our nation’s infrastructure and will continue review this proposal as more details are released.
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