Biden Signs Infrastructure Bill

Nov. 15, 2021 – In a ceremony that took place at the White House today, President Biden signed into law the $1.2 trillion bipartisan infrastructure bill that finally passed Congress after months of negotiations. “This bill marks an inflection point for us as a nation,” Biden said. “Things are going to turn around in a big way.” Biden has named Mitch Landrieu, a former mayor of New Orleans and a former lieutenant governor of Louisiana, as infrastructure coordinator, tasked in overseeing the largest infrastructure investment in generations. “At the core of the legislation is a five-year, $304 billion reauthorization of our surface transportation programs. Next, the bill includes an additional $550 billion in new funding that is disbursed for building hard infrastructure,” said Michele Stanley, National Stone, Sand & Gravel Association vice president of government and regulatory affairs. The five-year spending package will be financed by tapping unspent COVID relief aid, Medicare rebates and unemployment insurance halted by some states, as well as petroleum reserve sales and 5G spectrum auctions.