Market history · Policy ·
The US passes a $1.2 trillion infrastructure law
President Biden signed the Infrastructure Investment and Jobs Act into law on 15 November 2021. It authorised about $1.2 trillion in total, including roughly $550 billion of new federal spending over five years on roads and bridges, public transport and rail, broadband, water systems, ports and airports, and the electric grid.
For the owners and builders of infrastructure it was the largest single federal commitment in decades. The money was distributed over several years through federal agencies and states, and the pace at which projects started and finished was a recurring subject of debate in later years.
The takeaway
Public spending plans set the pipeline for infrastructure, but timing depends on permits, procurement and delivery capacity.
Sources
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