Biden Signs $1 Trillion Infrastructure Investment and Jobs Act into Law

What happened: President Joe Biden Nov. 15 signed the $1 trillion Infrastructure Investment and Jobs Act (IIJA) into law. ARTBA Chairman Ward Nye, chairman and CEO of Martin Marietta, attended the White House ceremony on behalf of the association and its members.

Why it matters: The law includes $450 billion for highway and public transportation investments and a new, five-year reauthorization of federal surface transportation programs. The IIJA will deliver generational transportation investments, with nearly 90 percent of the resources for roads and bridges distributed by formula directly to the states.

ARTBA’s take: “It was my great honor to represent the ARTBA membership and U.S. transportation construction industry at today’s historic White House signing ceremony,” Nye said. “The bipartisan infrastructure law is a victory for all Americans. Let’s get to work delivering transportation project outcomes that will boost the economy and make our roadways and railways safer.”

What’s next: Biden named former New Orleans Mayor Mitch Landrieu as senior advisor responsible for coordinating implementation of the new law. Landrieu will work with independent experts to verify that it creates good jobs, boosts the nation’s global economic competitiveness, strengthens supply chains, and acts against inflation, according to a White House statement. The next step for ARTBA is to help ensure IIJA surface transportation investment levels are fully realized in each of the next five years. The association will also continue its work promoting a federal regulatory environment that supports the timely delivery of infrastructure improvements.