From repairing roads and improving cybersecurity, to building bridges and improving water quality, the nation’s infrastructure is getting an influx in federal funds.
The price tag? A total of $1.2 trillion.
“My message to the American people is this,” President Joe Biden says. “America is moving again and your life is going to change for the better.”
Since the president signed the bill into law, Virginia lawmakers will have to allocate the funds. There are two main ways money is spread out among states: population size and jurisdictional grants.
Let’s break down how it will be spent the next five years in the Commonwealth:
- Roads: $7 billion
- Public Transportation: $1.2 billion
- Bridge Repairs: $537 million
- Electric Vehicles: $106 million
- Water Infrastructure: $738 million
- Airports: $368 million
Democratic leaders say the bill will pave the way for decades of economic success.
“With the $65 million in broadband funding, every home in the Valley, Southside and Southwest will have affordable high-speed internet connection,” Senator Mark Warner says.
However, Republican leaders warn the bill is only the start of the largest social spending expansion in history.
Congressman Bob Good saying in part: “No portion of that 10% allotment going back to Virginia justifies spending the other 90% or providing the gateway to Biden’s ‘Build Back Bankrupt Plan.’”
The money Virginia will receive isn’t quite what it seems. Some of the money in the bill simply involves the government renewing funds that were already approved.
The new money is a little less than $600 billion dollars.
“The impact of the bill is going to be felt in Virginia for generations,” Senator Tim Kaine says. “It will employ hundreds of thousands of people and raise the platform for economic success.”
While we know how much is coming, we don’t know exactly where and for what projects just yet. Those decisions are made at the local level.