The United States Congress has passed a historic $1.2 trillion infrastructure bill, marking one of the largest investments in American infrastructure in decades. The bipartisan legislation received support from both Democrats and Republicans in the Senate.

Key Provisions

The bill allocates $550 billion for roads and bridges, $65 billion for broadband internet expansion, and $39 billion for public transit modernization. President Biden is expected to sign the legislation into law this week at a White House ceremony.

“This is a once-in-a-generation investment in America’s future,” said the Senate Majority Leader. “It will create millions of jobs and strengthen our economy for decades to come.”

State-by-State Impact

California, Texas, and New York are expected to receive the largest allocations, with significant funding also going to Florida, Pennsylvania, and Ohio. The bill includes provisions for rural broadband that will benefit communities across the Midwest.

Economic Projections

The Congressional Budget Office estimates the legislation will create 2 million jobs over the next decade. Wall Street analysts have responded positively, with construction and materials stocks rising sharply following the vote.

Implementation Timeline

The Department of Transportation will begin distributing funds to states within 60 days of the bill’s signing. Major projects are expected to break ground by summer 2026.

Source: The New York Times | Read original