The President delivered The American Jobs Act to Congress this week, after he announced details of the legislation during a speech before a joint session of Congress last week. The $447 billion American Jobs Act contains a large infrastructure component including $50 billion for transportation program and another $10 billion to capitalize a National Infrastructure Bank.
The section on the National Infrastructure Bank is similar to the ASCE-endorsed BUILD Act, which Senators Kerry (D-MA) and Hutchison (R-TX) introduced this year. The inclusion of infrastructure bank language shows a desire from the Administration to find a vehicle for long term infrastructure investment options. Additionally, the Administration is making a broader list of infrastructure projects eligible for consideration including projects addressing surface transportation, aviation, water resources, clean water, energy, and solid waste.
The $50 billion in other infrastructure spending is broken out as follows:
- $27 billion for Highways
- $9 billion for Transit
- $4 billion for High Speed / Inter City Passenger Rail
- $2 billion for Amtrak Capital Funding
- $2 billion for Airport Improvement Program grants
- $1 billion for NextGen FAA funding
- $5 billion for TIGER grants and TIFIA
The legislation also includes $30 billion for school modernization, renovation, and repairs in public school districts.
At this time the House and the Senate are both looking at ways to create jobs. The President’s proposal would need to be introduced in each chamber and if passed would likely look very different than as originally proposed. ASCE will keep all Key Contacts up to date as the America Jobs Act moves forward.
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