House Passes Infrastructure Bill 🌉

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House Passes Infrastructure Bill

The White House announced Wednesday that President Joe Biden will sign into law the largest federal investment in infrastructure in more than a decade.

The approval of the bill promises to create legions of jobs and improve broadband, water supplies, and other public works.

The legislation includes about $550 billion in new funding for transportation, utilities, and broadband. It also invests $110 billion into roads, bridges, and other major projects, direct $66 billion toward passenger and freight rail, and $39 billion into public transit.

Additionally, the bill will invest $65 billion in expanding broadband access. It will put $55 billion into water systems, including lead pipe replacements. The legislation also includes a provision for cryptocurrency tax reporting.

“This is a blue-collar blueprint to rebuild America,” Biden said on Saturday. “It puts us on a path to win the economic competition of the 21st century that we face with China and other large countries and the rest of the world.”

Namely, “millions of good-paying, union jobs for working people, improvements in our ports and transportation systems that strengthen supply chains, high-speed internet for every American, clean water for all children and families, the biggest investments in our roads and bridges in generations, the most significant investment in mass transit ever, and unprecedented investments in clean energy infrastructure.”

Mayors and state officials across the U.S. are digging into the $1 trillion infrastructure bill approved by the House on Friday and are considering how they will aim to spend the funding.

Will the government’s passage of the bill make the country more inclusive, environmentally resilient, and industrially competitive?

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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