Blog Bipartisan Infrastructure Deal and its Benefits for the Trucking Industry
Recently, Joe Biden, the US president, agreed to the new infrastructure spending bill known as the bipartisan infrastructure deal. In simple terms, it is a bill that focuses on making investments in roads, bridges, and other forms of infrastructure. By providing permission to this bill, the US government will be offering support to the trucking industry.
The infrastructure of the bill focuses on spending $312 billion for new transportation, $109 billion on major projects, such as building roads, bridges, etc. Along with that, the government is spending $49 billion on public transit, $66 billion on freight rails, $25 billion on airports, $16 billion on waterways, and $7.5 billion on electric vehicle infrastructure.
These expenses fall only under physical infrastructure. However, the bipartisan infrastructure deal wants to focus on both human and physical infrastructure. As for human infrastructure, the government will be focusing on increasing taxes, childcare, and utilizing the money to combat climate change, etc.
However, you have to remember that the bill may or may not get approved. The government is planning to spend $973 billion on infrastructure for the coming five years. The government will be utilizing $236 billion after these five years for three more years. The focus is on improving the infrastructure, and when it comes to the benefits for the truck industry, it lies on the importance of roads and bridges. It is the component that intersects most with the trucking industry.
By improving the lanes, increasing their number, the authorities can reduce the congestions on the road. It will also help to travel efficiently while driving your truck and reduce any form of danger present. The implementation of this bill will assist in solving the problems happening due to fragile bridges.
Thus, the bipartisan infrastructure deal can play a pivotal role for the truckers in the trucking industry.