TRG | The Bottom Line – 11/12

Atlantis, Shangri-La, and Bigfoot. Save for 13 House Republicans, the Biden administration’s infrastructure bill would have become another legendary myth. Yet after months of internal debate, Speaker Pelosi delivered a huge win for the President and the construction industry alike. The Infrastructure Investment and Jobs Act (IIJA) provides $550B in new spending across several transportation modes including $110B for roads and bridges, $25B for airports, $55B for water infrastructure, $65B for broadband, and $17B for ports and waterways.  For road and bridge work, IIJA provides a nearly 50% increase in funding over the next 5-year compared to the FAST Act. State contacts share the new funding will allow DOTs to pull projects forward with a focus on new construction and maintenance programs, providing a significant boost to many companies in our coverage universe for years to come.