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Senate Bipartisan Infrastructure Framework released 6/25/2021:

$66 billion in rail projects and $49 billion for public transit. Mr. Biden, speaking to reporters, said Republicans had agreed to funding for many of his transportation proposals, albeit at reduced levels — and touted the inclusion of a $7.5 billion investment in charging stations for electric vehicles.

$109 billion in road and bridge projects. The framework includes an additional $25 million to upgrade airports and $16 billion for improvements at the nation’s cargo ports and waterways.

$201 billion in water, sewer, power and environmental remediation projects. The plan includes $55 billion for water infrastructure, $21 billion for environmental projects, and $73 billion for power grid improvements.

$65 billion for broadband infrastructure. Mr. Biden has said his goal is to provide “universal” broadband access, an initiative that is especially popular with Republican senators from states with large rural and exurban populations.

No new taxes on the wealthy or on corporations. Gone is the rollback of President Donald J. Trump’s tax cuts or Mr. Biden’s plan to raise the rates paid by corporations, a core selling point of the plan for progressives. But gone too are the proposals by Republicans, including a gas tax, which Mr. Biden viewed as new taxation on the middle and working classes.

A $47 billion down payment on “resilience” projects to cope with climate change. The agreement includes billions slated for weatherproofing, upgrades to coastal infrastructure and projects intended to mitigate against severe weather.

Stepped-up tax collection by the I.R.S. The proposal is expected to include heightened enforcement efforts by the Internal Revenue Service to reduce tax evasion by corporations and high earners. One of the lawmakers who worked on the deal, Senator Mark Warner, Democrat of Virginia, said the package would pump around $40 billion into enforcement to produce a net gain in tax revenues of $100 billion.

No major funding for housing. Mr. Biden lamented that he was unable to secure commitments for big new investments in affordable housing, but said he would keep pushing.

Eric Rothman OP-ED in Contractors Hotline:

Will the recent election results lead to more federal investment in transportation infrastructure?

As a decades long advocate for increased federal funding in transportation I have always believed that the condition of roads, bridges and other physical assets greatly affects the economy’s ability to function and grow. Commerce requires well-maintained roads, railroads, airports, and ports so that manufacturers can obtain raw materials and parts and deliver finished products to consumers. Improving many types of public infrastructure boosts the productivity of businesses by reducing their costs. Better roads and public transit make it feasible and more efficient for workers to get from their home communities to more of the places where the jobs are.

Though Republicans and Democrats currently disagree on a wide variety of policy proposals, members of both parties have, at time, been supportive of infrastructure spending.
"The Democrats are likely to push plans for large-scale infrastructure spending. Republicans have generally opposed Democratic plans on this issue, but President Trump has expressed support for infrastructure spending and might be willing to help," notes HSBC Bank Chief U.S. economist Kevin Logan.

In a recent postelection news conference, the president said he and Democrats "have a lot of things in common on infrastructure." Ever since launching his White House bid the president had lambasted what he's categorized as "horrible infrastructure problems" throughout the United States.

Newly energized Democrats are ready to pass a "pretty big, bold bill" and help pay for it by raising the federal gasoline tax for the first time in 25 years says Ray LaHood, former US Secretary of Transportation and currently co-chairman of the Building America's Future coalition, which pushes for a new era in infrastructure investment. The federal gas tax has been 18.4 cents, 24.4 cents for diesel, since it was last raised in 1993.

Back in February, there were reports that Trump was signaling a willingness to consider a federal gas tax hike to bolster the cash-strapped Highway Trust Fund, which is Washington’s primary mechanism for funding transportation infrastructure. Analysts say that the HTF is facing insolvency, and that without a rise in the gas tax or other additional funding sources, it could run out of money as soon as 2021.

Another proposal that has seen some support in Congress is a National Infrastructure Bank. Such a bank would be a government-owned corporation and, like the TIFIA loan program, would provide cheap, long-term financing for infrastructure projects. Supporters such as I have argued that this could overcome the fractured nature of local spending, help coordinate developments that cross state borders, and give Washington greater ability to prioritize important projects.

Both raising the federal fuel tax and establishing a national infrastructure bank are long overdue measures in my view. If you agree I urge you to contact your Members of Congress as well as President Trump and demand action. After decades of talk, empty promises and reshuffling of power it’s time our political leaders act in the vital national interest and fully fund transportation infrastructure using all available public and private mechanisms.

PSA's June 2016 Infrastructure Update is now available. To read the Newsletter please visit:https://psagroupllc.com/wp-content/uploads/2015/03/PSA-June-2016-Infrastructure-Update.pdf

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Please visit:https://psagroupllc.com/wp-content/uploads/2015/03/Feb-2016-PSA-IAEO-Infrastructure-Update.pdf to see our February 2016 Infrastructure Update Newsletter!