Progress on The Infrastructure bill
The bipartisan infrastructure bill holds great promise amongst retail, manufacturing, and transportation industry leaders. The $550 Billion bill has gained much progress by receiving the support of 10 Senators from both Republican and Democratic parties.
How Has The Infrastructure Bill Progressed?
An additional $500 billion was approved prior to the development of this bill and was provided for federal programs. These include pandemic relief plans as well as other crucial federal initiatives. Both parties are still debating the exact details of the infrastructure bill.
The parties have agreed on the following infrastructure improvements.
- Planned investments in roads
- Reconstruction of bridges,
- Public transit
- Power grids
- Electric vehicle
- Cyber attack
- Climate change defenses
- Drinking water improvements
- Broadband internet
Many of these have been long standing issues.
For decades the parties have not agreed on how to address these infrastructure problems. The pandemic has caused so much devastation but this appears to be a silver lining. The American Trucking Associations President and CEO Chris Spear mentioned earlier that shows how eager most businesses are to have such a bill. Spears said, “Americans, and the hardworking men and women who carry this economy on trucks, have waited long enough for Washington to act on our decaying infrastructure. We cheer this bipartisan breakthrough and hope it helps elected officials find more areas where they can work together to actually get things done.”
“The pandemic has demonstrated to Americans how critically important retail supply chains are to ensuring families have access to the products they need when they need them. Our supply chains rely heavily on our nation’s infrastructure, which is why the bipartisan deal announced today is critically important,” Austen Jensen, who is the senior vice president, government affairs at the Retail Industry Leaders Association (RILA), spoke about this in a press release. He went on to further state, “Retailers urge policymakers to seize this opportunity to invest in the long-term viability and modernization of our ports, railways, and highways to reduce congestion and the likelihood of future supply chain disruptions.” Jensen later said that “Today’s announcement demonstrates that bipartisanship on significant issues is achievable, and retailers applaud the leaders who were instrumental in negotiating a path forward. RILA stands ready to review the details of the deal to ensure it will meet the needs of the retail community and the 50 million jobs the industry supports.”
The Covid-19 variants and surge in infections have created more public health restrictions to return. Supply chain issues have also been one of the guiding factors to this bipartisan agreement. On November 5, 2021, President Joe Biden signed the $1.2 Trillion bipartisan infrastructure bill. This long awaited investment in creating a better America is a tall order for Federal agencies. The Department of Transportation and Energy have their work cut out for them as they begin to implement the new bill. The State and local officials also have a long road ahead of them as they begin to develop new programs, hire more employees, and figure out how to allocate the resources.
Hope For 2022
There is no telling what 2022 will bring as the pandemic continues to affect the global market. Industry leaders and the rest of the free world hope that this year brings more good outcomes like this and an end to the pandemic. In Spite of all that has gone wrong the last two years, there is a growing hope of big changes to come on the horizon.
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