What $1 Trillion Infrastructure Means to Construction Industry
Earlier this month, the Federal government passed an infrastructure bill with a goal to rebuild America’s roads, bridges and rails, expand access to clean drinking water, upgrade to cleaner & more reliable energy sources, and ensure every American has access to high-speed internet, among other investments in U.S. communities nationwide.
As infrastructure projects begin to roll out, Traffic Management, Inc. (TMI®) is prepared to provide quality safety services to all current and future customers nationwide. TMI is Serious About Safety, and we are committed to keeping the communities we serve safe as we rebuild America’s infrastructure.
Here’s a quick financial highlight of where some of the $1 Trillion will go in the Construction and Utilities Industries:
$110 Billion for Road & Bridge Repair
The legislation will reauthorize surface transportation programs for five years and invest $110 billion in additional funding to repair our roads and bridges and support major, transformational projects. The Bipartisan Infrastructure Deal makes the single largest investment in repairing and reconstructing our nation’s bridges since the construction of the interstate highway system.
$65 Billion to Reliable Internet
More than 30 million Americans live in areas where there is no broadband infrastructure that provides minimally acceptable speeds – a particular problem in rural communities throughout the country. The Bipartisan Infrastructure Deal will deliver $65 billion to help ensure that every American has access to reliable high-speed internet.
$65 Billion for Power Infrastructure Overhaul
Power outages cost the U.S. economy up to $70 billion annually. The Bipartisan Infrastructure Deal’s more than $65 billion investment includes the largest investment in clean energy transmission and grid in American history. It will upgrade our power infrastructure, by building thousands of miles of new, resilient transmission lines to facilitate the expansion of renewables and clean energy, while lowering costs.
$55 Billion to Clean Water
Currently, up to 10 million American households and 400,000 schools and child care centers lack safe drinking water. The Bipartisan Infrastructure Deal will invest $55 billion to expand access to clean drinking water for households, businesses, schools, and child care centers all across the country.
$17 Billion to Strengthen Supply Chain at Ports & Airports
The legislation invests $17 billion in port infrastructure and waterways and $25 billion in airports to address repair and maintenance backlogs, reduce congestion and emissions near ports and airports, and drive electrification and other low-carbon technologies. Modern, resilient, and sustainable port, airport, and freight infrastructure will strengthen our supply chains and support U.S. competitiveness by removing bottlenecks and expediting commerce and reducing the environmental impact on neighboring communities.