General

The landmark IIJA, the largest single infrastructure bill in decades, will invest US$110 billion in the construction of roads, bridges and major infrastructure projects. This bill is also very much anticipated by Biden, because the US infrastructure has been dilapidated and it can even be said to have affected the development of the United States.

u3000u3000Upgrading US airports and ports to strengthen the supply chain and prevent inflation will increase the US’s competitiveness, create more and better jobs in these hubs, and reduce emissions.

u3000u3000 The bill will invest US$17.4 billion in port infrastructure and waterways, and US$25 billion in airports to improve runways, gates and taxiways, and multimodal transport connections.

u3000u3000 Make the largest investment in freight and passenger railways. The bill will invest US$66 billion in the construction of freight and passenger railroads, including special funds for the Northeast Corridor of the American Railway Corporation. Modernize the Northeast Corridor of the United States and provide world-class rail services to areas outside the Northeast and Mid-Atlantic.

u3000u3000 The bipartisan bill is the first phase of US President Biden’s infrastructure plan. The bill is 2,700 pages long and requires the United States to increase its investment in infrastructure construction. It clearly states that US$110 billion will be used for roads and bridges, US$39 billion will be used for public transportation, US$66 billion will be used for railways, and US$55 billion will be used for sewage. Processing facilities, and tens of billions of dollars for the construction of airports, ports, broadband Internet and electric vehicle charging stations.

On November 15, the US House of Representatives will continue to discuss the "Build Back Better Act" (The Build Back Better Act), which focuses on people’s livelihoods, including US$555.0 billion in clean energy and climate investment, and US$400 billion in young children. Maintenance and pre-school education, 200 billion in child tax and salary tax credits, 150 billion in cheap housing, 130 billion in Affordable Care Act credits. It is expected that the House of Representatives is very likely to pass. Biden said he can sign both bills at the same time.

u3000u3000The infrastructure bill is huge

u3000u3000 The "Infrastructure Investment and Employment Act" is complex in content, but generally includes the following eight aspects:

u3000u3000 1. Provide clean water for all American households. Currently, as many as 10 million American families and 400,000 schools and nurseries lack safe drinking water. The new bill will invest 55 billion U.S. dollars to expand access to clean drinking water for families, businesses, schools and childcare centers across the country. From rural towns to troubled cities, the legislation will invest in water supply infrastructure and eliminate lead service pipelines, including in tribal countries and the disadvantaged communities that need it most.

u3000u30002. Ensure that every American can use reliable high-speed Internet. Broadband Internet is essential for Americans to complete their work, participate equally in school, health care, and keep in touch. However, surveys have shown that more than 30 million Americans live in areas that do not provide the lowest acceptable speed broadband infrastructure—a particular problem for rural communities in the United States. In addition, according to the latest data from APEC, the United States ranks second in the cost of broadband among the 35 countries studied. The new bill is expected to provide 65 billion U.S. dollars to help ensure that every American can use reliable high-speed Internet through historic investments in broadband infrastructure deployment. The legislation will also help reduce the price of Internet services and help narrow the digital divide so that more Americans can afford Internet access.

u3000u30003. Repair and rebuild roads and bridges in the United States, focusing on climate change mitigation, resilience, fairness and safety for all users. In the United States, one-fifth of highways and major roads and 45,000 bridges are in poor condition. The new bill will reauthorize the ground transportation plan for five years and invest $110 billion in additional funds to repair roads and bridges in the United States and support major transformation projects. The new bill is the largest single investment in repairing and rebuilding American bridges since the construction of the interstate highway system. It will rebuild the most economically significant bridges and thousands of smaller bridges. The legislation also includes the first ever plan to provide safe streets and roads for everyone to support a project to reduce traffic deaths, which claimed more than 20,000 lives in the first half of 2021.

u3000u30004. Through the largest public transportation investment in the history of the United States, improve transportation options for millions of Americans and reduce greenhouse gas emissions. The public transportation infrastructure in the United States is inadequate-there is a backlog of billions of dollars in maintenance, requiring the replacement of more than 24,000 buses, 5,000 rail cars, 200 stations, and thousands of miles of track, signal, and power systems. Communities of color are twice as likely to take public transportation as other communities, many of which lack adequate public transportation options. The transportation sector in the United States is now the largest single source of greenhouse gas emissions. The new bill includes $39 billion in new investments to modernize transportation,

u3000u3000 5. Upgrade US airports and ports to strengthen the supply chain and prevent inflation. This will increase America’s competitiveness, create more and better jobs in these hubs, and reduce emissions. For decades, the neglect and insufficient investment in infrastructure in the United States has made it difficult for every link in our cargo transportation supply chain to keep up with our strong economic recovery from the pandemic. The new bill will invest US$17 billion in port infrastructure and waterways and US$25 billion in airports to solve the maintenance and maintenance backlog, reduce congestion and emissions near ports and airports, and promote electrification and other low-carbon technologies.

u3000u3000 6. Make the largest investment in passenger railways. American passenger rail lags behind the rest of the world in reliability, speed, and coverage. China already has 22,000 miles of high-speed railway and plans to double it by 2035. The legislation positions railroads as the future that will play a central role in the transportation and economy of the United States. It invests US$66 billion in additional rail funds to modernize the Northeast Corridor of the United States and provide a world for the Northeast and the Mid-Atlantic area. First-class railway service.

u3000u3000 7. Establish a national electric vehicle (EV) charger network. The market share of plug-in electric vehicle sales in the United States is only one-third of the size of China's electric vehicle market. The new plan will invest 7.5 billion US dollars to establish a nationwide electric vehicle charger network in the United States. This is a key step in the US President’s strategy to deal with the climate crisis, and it will create good employment opportunities in the US manufacturing industry. The legislation will provide funding for the deployment of electric car chargers along highway corridors to facilitate long-distance travel and provide convenient charging where people live, work, and shop within the community. This investment will support the US President’s goal of establishing a national network of 500,000 electric vehicle chargers to accelerate the popularization of electric vehicles, reduce emissions, improve air quality, and create high-paying jobs across the country.

u3000u3000 8. Upgrade the power infrastructure of the United States, provide clean and reliable energy across the country, and deploy cutting-edge energy technologies to achieve a zero-emission future. According to data from the Department of Energy, power outages cause as much as 70 billion U.S. dollars in losses to the U.S. economy each year. The new bill will invest more than 65 billion U.S. dollars in projects including the largest clean energy transmission and power grid in the history of the United States.

u3000u3000Biden: The bill will create millions of jobs and turn the climate crisis into opportunities

u3000u3000 After the House of Representatives voted to pass the bill, US President Biden said in a statement that this is an infrastructure bill supported by this generation of Americans, which will create millions of jobs and turn the climate crisis into opportunities.

u3000u3000Biden believes that the bill will create high-paying jobs that cannot be outsourced, including the most significant investments in passenger and freight railways, highways, bridges, ports, airports, and public transportation, which will change the transportation system in the United States.

u3000u3000 In addition, the bill will also make it easier for companies to bring products to the market faster, reduce supply chain bottlenecks now and in the coming decades, and ease inflationary pressures and reduce the cost of working families.

u3000u3000 The bill will create jobs, replace leaded water pipes, allow every family to drink clean water, and make high-speed Internet affordable and available everywhere in the United States.

u3000u3000Biden also emphasized that the bill will make historic progress in addressing the climate crisis. It will establish the first ever nationwide network of electric vehicle charging stations across the country. It will allow the United States to make progress in the manufacture of solar panels, wind farms, batteries, and electric vehicles to develop these supply chains and reward high salaries and cost-effectiveness. US companies that purchase materials and allow them to export these products and technologies to the world.