New Infrastructure Bill Signed into Law
President Biden signed into law the $1 trillion bi-partisan infrastructure bill on Monday. The Infrastructure Investment and Jobs Act (IIJA) will impact infrastructure across the country and target equitable investment. The legislation includes the first new surface transportation act since the Fixing America’s Surface Transportation (FAST) Act, which was passed in 2015. The bill brings sizable investments into public transit and electric vehicles.
Funding for the following is in the bill:
Roads and Bridges: $110 billion to repair roads, bridges, and highways across the country
Public Transit: $39 billion for expanding transportation systems, improving accessibility for people with disabilities, and purchasing zero-emission vehicles
Passenger and Freight Rail: $60 billion to improve Amtrak rail service
Electric Vehicles: $7.5 billion to install 500,000 electric vehicle charging stations and $5 billion for the purchase of electric school buses and hybrid school buses
Biking and Walking: $7.2 billion invested into the Transportation Alternatives Program, the source of funding for both the Transportation Alternatives Set-Aside and Safe Routes to School grant programs
Local impacts include:
SEPTA
⦁ $120 million in federal money in the fiscal year 2021
⦁ A cumulative $540 million by the fiscal year 2026, in addition to $300 million from formula-based aid
New Jersey
⦁ $6.9 billion for highways
⦁ $1.1 billion for bridge repairs and replacement
⦁ $4.2 billion for transit over five years
⦁ $30 billion for improving Amtrak’s Northeast Corridor, benefitting commuters across New Jersey
SEPTA
⦁ $120 million in federal money in the fiscal year 2021
⦁ A cumulative $540 million by the fiscal year 2026, in addition to $300 million from formula-based aid
This funding represents a historic investment in infrastructure projects across America. In addition, the bill also requires states to prioritize communities where there has been chronic underinvestment and disconnect from past decision-making.
