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Modernizing, decarbonizing and securing America's infrastructure

What does the bipartisan deal for new spending on America’s infrastructure mean for business?­

Opportunities to grow and create jobs. 

The roughly $1 trillion investment package attempts to make a dent on the repair backlog in transport systems. It also calls for investments in spots where America needs to modernize, calling for new spending to upgrade the nation’s grid and clean water systems, and to expand access to broadband. 

With the Senate bill, Washington continues to craft how it will support the country’s transition to a clean economy. Of the some $550 billion in proposed new spending, roughly a third calls for investments in clean energy, power and transport, as well as drinking water systems, weatherizing and energy efficiency initiatives. 

Resolved to make headway in securing both the physical and digital infrastructures, the bill calls for investments in enhanced cybersecurity in the power, water and transportation systems. It would fund the office of the newly created role of National Cyber Director, who serves as the coordinator for cybersecurity policy between federal agencies, Congress and the White House.

The proposed new spending seeks to avoid new debt or higher taxes. Instead, it will be financed with offsets from new tax reporting requirements, redirecting more than $250 billion in unused COVID-19 relief funds, and cost cuts. But whether or not this bipartisan deal is approved by Congress could depend on a separate $3.5 trillion budget reconciliation bill, which would be used to advance other spending and tax relief proposals—to be offset in part by corporate and individual tax increases.

October 14
Latest on the size of the reconciliation bill
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September 9
Reconciliation process moves forward
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August 24
House approves budget resolution, action to come on reconciliation tax bill
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Modernize

The Senate bill would put billions of federal dollars into road, bridge, rail and other modernization projects, with significant implications for businesses that depend on this infrastructure. In other words, virtually all business.

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Decarbonize

The Senate bill sends possibly the strongest signal yet that the drive toward a more sustainable economy powered by low-carbon alternatives—including wind, solar, hydropower and nuclear—is bipartisan and considered to be in the national interest.

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Secure

Cybersecurity is not optional. The bipartisan deal includes $1 billion for state, local and tribal governments to upgrade their networks. It invests another $1 billion to better secure power and water infrastructures.

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Fund new infrastructure

The infrastructure agreement draws on unused pandemic relief funds, strengthened tax enforcement for cryptocurrency and other offsets for funding.

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