Transportation Electrification Gets a Boost in the Infrastructure Investment and Jobs Act

摘要

On November 15, 2021, President Biden signed the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA or “Act”) into law. The IIJA is one of the largest infrastructure packages in recent history, including funding across three key areas: connectivity, decarbonization, and the creation of new economic opportunities. Connectivity investments fund the ways in which Americans connect with one another both physically and virtually. The IIJA intends to fund highways, roads, and bridges, and invest in public transit and water system upgrades, passenger rail, airports, and supply chain ports. It also provides opportunities for increased access to high‐quality broadband connectivity in otherwise underserved areas. While not the intended purpose of the Act, it does nonetheless provide funding that advances decarbonization efforts, including providing financial support for the expansion of renewable energy development, the acceleration of electric vehicle adoption, and the advancement of emerging technologies such as energy storage, blue hydrogen, geothermal, and advanced nuclear power generation. Finally, the IIJA is expected to create significant job growth, with a projected creation of 1.5 million jobs per year for the next 10 years.