Special Briefing on the Deployment of the $1 Trillion Infrastructure Investment and Jobs Act by States and Localities

With the passage of the IIJA in November 2021, governments face the challenge of allocating more than $1 trillion of funding in a strategic manner that address both past neglected needs and paves the way for a sustainable future. Panelists discuss innovative solutions being pursued, roadblocks that are on the horizon, and the overall impact of this funding on the nation’s infrastructure and economy. 

This Special Briefing features a panel of experts, including Patrick Brett, managing director and head, Citi Municipal Debt Capital Markets; Mayor Jorge Elorza, City of Providence, Rhode Island; Lauren Larson, director, Colorado Governor’s Office of State Planning and Budgeting; and Larry Parks, co-founder, Forethought Advisors. 

Notable Quotes:

 “When you consider that 80 percent of the nation’s infrastructure spending comes from state and local governments, this new federal funding is truly a gift that will keep on giving,” William Glasgall said. 

“We have a lot of divided governments at the state level,” said Larry Parks, co-founder of Forethought Advisors, which provides strategic counsel and political intelligence to clients in financial services and other regulated industries. “Let’s say you have a Republican legislature in Michigan and a Democratic governor. Does Detroit benefit or not?” 

“We’re expecting 120 programs to receive some type of money here, and that’s in ten of our state agencies, so it’s quite a coordination effort,” said Lauren Larson, director of the Colorado Governor’s Office of State Planning and Budgeting. 

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 Learn more about Penn IUR at: penniur.upenn.edu 

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The views expressed on this podcast are those of the panelists and do not necessarily reflect the position of the Volcker Alliance or Penn IUR.