President Joe Biden this weekend signed the $1 trillion infrastructure bill into law—paving the way for the single largest public works deal since the Federal Aid Highway Act of 1956. It’s also the single largest investment made to address climate change in U.S. history.
With its passage, the infrastructure deal stands to benefit small businesses ranging from construction firms to energy and telecommunications industry consultancies, Inc. reports. Appropriations include $17 billion for shoring up port infrastructure, and $25 billion for airports to address repair and maintenance backlogs. There’s $65 billion for broadband infrastructure and $7.5 billion for building out a network of electric vehicle chargers along highways and in rural and disadvantaged communities. There’s also $110 billion for rebuilding roads, bridges, and connected surface transportation projects.
The new law also provides funding for energy efficiency upgrades and manufacturing modernization, along with grants for workforce training, which small businesses will be able to access. Read the full story.