Last night, the U.S. House voted in favor of $550 billion in new spending, and we expect President Joe Biden to sign it into law this morning. The Infrastructure Investment and Jobs Act would spend the money on bridges, highways, and other transit-related projects. The Act would also spend $650 billion, which comes from existing sources like the gas tax. We expect the House to vote on an additional $1.2 trillion in additional infrastructure spending over the next eight years before Thanksgiving after the Congressional Budget Office determines the true cost of the legislation.
This bill will spend taxpayer money on highway, transit, highway safety, motor carrier, research, hazardous materials, and rail programs of the U.S. Department of Transportation (DOT).
Among other provisions, the bill
- extends FY2021 enacted levels through FY2022 for federal-aid highway, transit, and safety programs;
- reauthorizes for FY2023-FY2026 several surface transportation programs, including the federal-aid highway program, transit programs, highway safety, motor carrier safety, and rail programs;
- addresses climate change, including strategies to reduce the climate change affects of the surface transportation system and a vulnerability assessment to identify opportunities to enhance the resilience of the surface transportation system and ensure the efficient use of federal resources;
- revises Buy America procurement requirements for highways, mass transit, and rail;
- establishes a rebuilding rural bridges program to improve the safety and state of good repair of bridges in rural communities;
- implements new safety requirements across all transportation modes; and
- directs DOT to establish a pilot program to show a national motor vehicle per-mile user fee to restore and maintain the long-term solvency of the Highway Trust Fund and achieve and maintain a state of good repair in the surface transportation system.