Biden Signs $1.2Tln Infrastructure Bill He Says Will Help US Compete With China

WASHINGTON (Pakistan Point News / Sputnik - 16th November, 2021) President Joe Biden signed on Monday a $1.2 trillion infrastructure bill with bipartisan support from rival Republicans, saying the package would fix America's outdated transportation and broadband networks and help its investments in infrastructure grow faster than China's.

"For too long, we've talked about having the best economy in the world; we've talked about asserting American leadership in the world with the best and safest roads, railways, ports, and airports," Biden said in an event live-streamed from the lawn of the White House. "But today, we are finally getting it done. And my message to the American people is: America is moving again. And your life is going to change for the better. American infrastructure investment will grow faster than China's."

The bill will deliver $550 billion of new Federal investments in America's infrastructure over five years, including money for roads, bridges, mass transit, rail, airports, ports and waterways, the White House said.

Included is $40 billion for bridge repair, replacement and rehabilitation, according to the bill's text.

The White House says it would be the single, largest dedicated bridge investment since the construction of the interstate highway system, which started in the 1950s.

There is also a $65 billion investment for improving the nation's broadband infrastructure and invests tens of billions of Dollars in improving the electric grid and water systems. Another $7.5 billion would go to building a nationwide network of plug-in electric vehicle chargers, according to the bill's text.

The package includes $16 billion for major projects that would be too large or complex for traditional funding programs such as climate change mitigation, according to the White House.

Also in is $11 billion for transportation safety, including a program to help states and localities reduce crashes and fatalities, especially of cyclists and pedestrians, according to the White House. It would direct funding for safety efforts involving highways, trucks, and pipeline and hazardous materials.