Global Project, Energy and Infrastructure Finance Partner Allan Marks authored a Forbes article titled “Biden Signs Infrastructure Law: Here's How It Will Streamline $1 Trillion in Spending".
“The ambitions of the new infrastructure package are long term, to make the US economy more robust, more interconnected and more inclusive on both the national and local levels,” Allan commented, “On a larger scale, the goals are to remedy persistent underinvestment in infrastructure, to restore the country’s competitive edge, to boost productivity and economic capacity, and to improve the quality of life.”
Key takeaways - the new infrastructure package:
- Funds modernized infrastructure across sectors: transportation, energy, water, digital, rail, airports and ports
- Streamlines the federal environmental review process under NEPA to make it quicker and more coordinated
- Benefits utilities and private contractors upgrading the electric transmission grid and building networks for EVs and alternative-fueled vehicles
- Boosts Public-Private Partnerships, Private Activity Bonds and Transit-Oriented Development, including through an expanded TIFIA program
