Details of the financing of the US bipartite infrastructure deal
The White House recently released more details on its once-in-a-generation infrastructure investment proposals, as the bipartisan infrastructure deal is set to be debated in the Senate. President Joe Biden estimates that the $ 550 billion deal will create two million jobs per year over the next decade and lay the foundation for a thriving, green economy in the 21st century. Here are the key points.
Roads, bridges and major projects
One in five kilometers of American highways and roads is in poor condition, as are 45,000 bridges. Roads, bridges and other major projects will be a key part of all spending, and reconstruction will focus on mitigating climate change as well as improving access for cyclists and pedestrians. . The $ 40 billion allocated to repair and replace bridges is the largest investment dedicated to bridges since the construction of the interstate highway system.
Funding 110 billion dollars
The deal marks the largest single investment in clean energy transmission, with thousands of new, resilient lines facilitating the expansion of renewable energy. A new grid deployment authority will be created, investing in R&D for electricity distribution and next generation technologies, such as carbon capture and clean hydrogen.
Funding $ 73 billion
Passenger and freight train
Rail does not have a multi-year funding stream to manage deferred maintenance, improve existing corridors and build new lines in high potential locations. The White House says the deal would mark the biggest investment in passenger rail transportation since Amtrak was created 50 years ago. Under the rail spending program, $ 22 billion would be provided as grants to Amtrak, $ 24 billion as federal-state partnership grants for northeast corridor upgrades, $ 12 billion partnership grants for intercity rail service, including high-speed rail, $ 5 billion for rail improvement and safety grants, and $ 3 billion for level crossing safety improvements .
Funding $ 66 billion
Broadband is vital for all segments of society, from school children to construction sites, but more than 30 million Americans live in areas where there is no broadband infrastructure offering minimally acceptable speeds – a particular problem in rural areas. The bill also seeks to reduce the prices of internet services by requiring funding recipients to offer an affordable, low-cost plan, in conjunction with a digital equity law, which will help more low-income households to to log in.
Funding $ 65 billion
Western water resilience and infrastructure
Whether it’s floods, power outages or storms, millions of Americans are feeling the effects of climate change – last year alone, the country faced 22 extreme weather events with losses exceeding each time $ 1 billion. Agreement aims to make communities safer and infrastructure more resilient
Funding $ 50 billion
Airports, ports and waterways
The bill invests $ 17 billion in port infrastructure and $ 25 billion in airports to address repair and maintenance delays, reduce congestion and emissions near ports and airports, and promote transportation. electrification and other low carbon technologies.
Funding $ 42 billion
Like its roads and bridges, America’s transit infrastructure is inadequate with more than 24,500 buses, 5,000 rail cars, 200 stations, and thousands of miles of tracks, signals, and electrical systems to replace. . It would be the largest federal investment in public transit in history and would bring transit services to new communities.
Funding $ 39 billion
The deal invests $ 21 billion in environmental remediation, marking the largest investment in tackling legacy pollution, and includes funds to clean up shallow areas and brownfields, reclaim abandoned mines and cover orphan gas wells.
Funding $ 21 billion
The agreement will include a Safe Streets for All program aimed at reducing high rates of road fatalities and will encompass the safety of highways, trucks, pipelines and hazardous materials.
Funding $ 11 billion
The market share of plug-in electric vehicle sales in the United States is only one-third the size of the Chinese electric vehicle market. The bill will invest $ 7.5 billion to build a nationwide network of electric vehicle chargers, marking the first national investment in electric vehicle charging infrastructure in the country – in a twofold move designed to tackle the climate crisis and support domestic manufacturing jobs. Federal funding will prioritize rural and disadvantaged communities.
Funding $ 7.5 billion
Thousands of electric school buses will be introduced with a greater emphasis on US-made and environmentally friendly vehicles. Zero-emission buses, low-emission buses and ferries will each receive $ 2.5 billion.
Funding $ 7.5 billion
The agreement creates the first program to reconnect communities divided by transportation infrastructure, focusing on fund planning, design, demolition and reconstruction of street networks, parks and other infrastructure.
Funding $ 1 billion