White House Announces $60 Billion Transportation Plan
What’s New?
On October 11, the Biden Administration announced that $60 billion (yes, billion with a “B”) of federal funding would be used to repair transportation corridors nationwide.
“America’s roads and bridges are the vital arteries of our transportation system, connecting people and goods across the country,” Transportation Secretary Pete Buttigieg said.
On Oct. 13 the White House released a set of strategies for expediting the completion of large infrastructure projects.
One facet of the plan is to have the Federal Highway Administration work directly with the state’s Department of Transportation on ways to innovate the transportation construction process.
The Department of Commerce and the Department of Interior would also continue to accelerate the environmental permitting needed for high-speed internet projects.
The National Parks Service will create and distribute electronic copies of manuals and guides to best practices on these projects.
The U.S. Army Corp of Engineers also has a foot in the game, they will focus on alternative delivery approaches for water infrastructure projects, specifically.
“We’re talking about better roads, better bridges, airports, ports, clean air and safe water [and] faster internet,” said White House infrastructure policy coordinator Mitch Landrieu.
“The bipartisan infrastructure law is also providing the first down payment toward achieving our administration’s climate agenda.”
He described the IIJA as, “the largest investment in infrastructure since the 1950s and ’60s. Now we’ve got to put that money to work.”
“With this new infrastructure law, what’s happening today is needing to build capacity to build a pipeline of projects to be able to leverage that future workforce,” Shawn Wilson, president of AASHTO and secretary of the Louisiana Department of Transportation and Development said.
Conclusion
Thanks to the IIJA, also known as the bipartisan infrastructure law, infrastructure projects are getting funded left and right. Almost like at TopMark Funding. TopMark can help you with all your financing and funding needs, feel free to contact us for a free, no-obligation, quote that will not impact your credit score by clicking the banner below!
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