Special Briefing: Rolling Out the $1.2 Trillion Infrastructure Investment & Jobs Act—What’s Being Built and What’s in the Pipeline

The Volcker Alliance and Penn Institute for Urban Research invite you to join an online Special Briefing on how the rollout of the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA) is proceeding. A critical part of legislation passed by Congress to combat the economic impact of the COVID-19 pandemic and enhance the durability and sustainability of the nation’s infrastructure, the bipartisan deal promises thousands of new jobs and billions of dollars for roads, bridges, public transportation, water systems, and broadband access. Through July, the value of highway and bridge construction work was running 24 percent ahead of the 2020-21 pace, American Road & Transportation Builders data show. But there are bottlenecks as well, and the process of applying for federal grants is confusing, especially for smaller governments. Our panel of experts will sort this out and explain where infrastructure construction is headed.

 Our panel of experts will include Representative Earl Blumenauer (D-OR); Samantha Silverberg, deputy infrastructure implementation coordinator at The White House; Alison Premo Black, senior vice president and chief economist, American Road & Transportation Builders Association; and Leah Brooks, professor, Trachtenberg School of Public Policy and Public Administration, George Washington University; Jessica Jennings, legislative director for transportation and infrastructure, National Association of Counties; and Vikram Rai, lead strategist, Wells Fargo municipal division. 

Notable Quotes: 

“This is the first time we have a commitment unequivocally to be able to rebuild and renew America. It's a refreshing change and an opportunity for us,” Representative Earl Blumenauer. 

“The IIJA, or the bipartisan infrastructure law as we call it, is a once-in-a-generation investment in our nation's infrastructure,” Samantha Silverberg. 

“I can tell you from a market standpoint, for the transportation sector, we're absolutely seeing that program have a very big market impact,” Alison Premo Black. 

“Most of America's roads are in rural areas, and 70% of counties are rural. We experienced all kinds of challenges when it comes to our small counties. And the biggest one really is our capacity,” Jessica Jennings. 

“Infrastructure costs more in the U.S. than it does in almost any other country in the world. And you might not be surprised that it costs more in the U.S. than it does in developing countries like China. But you might be surprised to hear that it costs the U.S. substantially more than other countries like Germany or Australia, countries that we think actually have a full suite of environmental protections in the same way that we would like to,” Leah Brooks. 

“The IIJA aims to put more transportation infrastructure by public-private partnerships. It does so by doubling the amount of availability with the objective to increase P3 (public-private partnerships) funding,” Vikram Rai. 

Be sure to subscribe to Special Briefing to stay up to date on the world of public finance. Learn more about the Volcker Alliance at: volckeralliance.org 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.