Biden’s Infrastructure Bill Sees the Light of Day

This year’s budget proposal season is a little spicy as it’s the first major budget haggling of Biden’s administration, and it seems to be focusing heavily on goals he campaigned on; funding for more equitable education, pollution reduction, and a 110 billion dollar transportation package.

That infrastructure package is now more of a reality, and the implications for various industries will be hard to quantify.

The Biden Administration plans to invest heavily in post-pandemic economic recovery, with the education, transportation, and public works industries looking to receive massive funding boosts. The proposals still need to work their way through Congress, but if the recent infrastructure package negotiations are a foresight into the future, there is sure to be much debate over the new budget.
 
The sweeping bipartisan 100 trillion dollar package that passed the Senate on August 10th is the largest federal investment in the nation’s aging public works system in more than a decade, with the Senate voting 69-30. Like Alix Steel and David Westin explained on Bloomberg, this is both unexpected and also raises an eyebrow to a potentially larger trend of bipartisan cooperation.

“But yet, a bipartisan spending with over $500 billion of new money is now small feat for a very partisan DC.”
-Alix Steel, Host, Bloomberg

“That’s absolutely right, though there were actually three fiscal stimulus bills that got through on a bipartisan basis under President Trump I should say. The partisan one came up with the American Rescue Plan which was actually President Biden at the beginning of this year.”
-David Westin, Host, Bloomberg

The bill would see about $110 billion would go to roads, bridges and other transportation projects. It gives Amtrak the most funding it has received since it was founded in 1971. It also included $65 billion meant to connect hard-to-reach rural communities to high-speed internet and help sign up low-income city dwellers who cannot afford it

For continued updates on the upcoming budget debates and their impact across the B2B world, subscribe to the Homepage of B2B today. 

Follow us on social media for the latest updates in B2B!

Latest

Turo is Decentralizing the Car Rental Industry. But Can it Scale?
September 24, 2021
 Since the start of summer, the car rental industry has been trying to maneuver a mass car shortage. Because of the global semiconductor shortage, automotive OEMs slashed car production at the Read more
How UK Companies Can Cross the Pond to Success in an American Market
September 24, 2021
 Post-Brexit, the U.K. is eager to fill the void of the European Union's single market and tax reliefs with fresh free trade agreements. This included discussions with the U.S., which moved forward Read more
Exploring AT&T’s Commitment to Renewable and More Efficient Energy Use
September 24, 2021
“Since 2010, we’ve completed over 100,000 energy efficiency projects.” How are key stakeholders driving change in energy? Many are forging a path to renewable energy, carbon neutrality, and leveraging data and Read more