U.S. Congress Could Consider $3 Trillion Infrastructure This Spring
The U.S. House and Senate are in recess this week for the spring holidays. When lawmakers return in April, they are likely to focus their efforts on writing a massive infrastructure investment bill.
How much will that legislation cost, and what will be included in it? The nation soon will find out. President Joe Biden is expected to give a major address on infrastructure this week—Wednesday, March 31—in Pittsburgh.
As The New York Times and The Washington Post reported early last week, that plan will include roughly $3 trillion in spending for a broad range of infrastructure categories, and some programs, like universal pre-kindergarten, that do not traditionally fall under infrastructure spending categories. The White House is likely to propose splitting the initiative into two parts: a bill focused on manufacturing, transportation, broadband access, and green energy initiatives, and a second, economic inequality-focused measure that would include spending for “human infrastructure” programs like education and job training.
The measures also will focus on tackling climate change. Indeed, when U.S. Secretary of Transportation Pete Buttigieg testified before the U.S. House Transportation and Infrastructure Committee on March 25, he said the federal government must make a “generational investment” in the country’s transit and water systems while addressing this issue and racial inequities. The White House’s $3 trillion infrastructure package is said to include $60 billion for green transit infrastructure, $46 billion for climate-related research and development, and funding to increase availability of electric vehicle charging stations.
Stay tuned to Connecting the Dots for more information as this package takes shape, and do not forget to visit www.build-now.org to learn more about MSCI’s efforts to create a grassroots movement in favor of national infrastructure investment.
Individuals also are encouraged to engage on social media about the need for investment using #LetsBuildNow.