At halfway mark, majority of infrastructure law funds yet to be spent

Halfway through the five-year Infrastructure Investment and Jobs Act, less than half — 38% — of the funding has been announced, according to the White House. That’s a 13.5% increase in the past 6 months, an indication that the process is ramping up but still lags. Announced funding, captured from agency press releases, is preliminary and non-binding, whereas awarded funding represents actual obligations, per the White House. Half of the IIJA’s funding, or $550 billion, goes to new initiatives. The White House also released an updated map of the more than 56,000 projects and awards that are identified or now underway at 4,500-plus localities around the country. That’s up 40% from 40,000 projects six months ago. Many of the country’s infrastructure systems suffer from long standing underinvestment, according to the American Society of Civil Engineers. ASCE gave U.S. infrastructure a “C minus” on its most recent report card, with roads, bridges, airports and water systems rated in “poor” to “mediocre” condition. Many need updates to withstand the impact of more frequent and intense extreme weather due to climate change. The goal of the IIJA is to start to address these repair and resilience gaps, and recent Biden administration investments have kept the state of infrastructure from getting worse, an ASCE study released in May found.

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