Executive Summary
Investments into infrastructure under the Biden Administration will have a lasting impact on infrastructure resilience and the clean energy transition for states, cities, and municipalities across the nation, as targets of 2035 for zero-carbon power generation and 2050 for a net zero economy continue to be key in both recently passed and anticipated legislation.
On November 15th , the Infrastructure Investment and Jobs Act (Bipartisan Infrastructure Law) was signed into law by President Biden. This bill, developed by a bipartisan group of Senators, reflects the intersecting White House goals of accelerating the clean energy transition, job creation, surface infrastructure repair, and equitable impacts to disadvantaged communities.
The IIJA will invest ~$1.0T over 5 years with much of this in the form of grant and loan programs that inject capital directly into physical infrastructure projects.
Disbursement of funds from the IIJA and potential other programs will require close collaboration between public and private sector groups as the individual investment programs take shape in the coming months. States, cities, municipalities, regional agencies and businesses should be taking steps now to position themselves for success in accessing these federal funds.
