Washington, DC – The Bipartisan Policy Center congratulates the Senate for passing the Infrastructure Investment and Jobs Act today. This legislation demonstrates to the American people that Members of Congress can come together to address our nation’s needs—proving once again that bipartisanship is the key to making meaningful and long-lasting progress. The focus now shifts back to Speaker Nancy Pelosi and the House of Representatives for what we hope will be prompt consideration.
“Bipartisan collaboration is the only way to create durable policy in a divided country,” said BPC President Jason Grumet. “The hard work and courage exhibited by Senators from both parties and the White House deserves recognition, but there is more work to be done. We encourage the House to act quickly to advance this legislation and make a positive difference in the lives of every American.”
Importantly the legislation secures $1 trillion in much needed investments in our infrastructure, from highways to water systems to broadband and represents a significant step forward in the nation’s clean energy transition. In addition, it reflects the goals outlined earlier this year by BPC, including the following priorities:
Leveraging Private Capital
Several of the bill’s provisions align with BPC’s recommendations on how Congress can encourage more private investment.
- Requiring applicants for TIFIA and RRIF projects over $750 million to conduct Value for Money Analyses;
- Expanding Private Activity Bonds to broadband, carbon capture, and direct air capture technologies;
- Raising the volume cap for eligible highway and freight projects from $15 billion to $30 billion; and
- Creating a new DOT office focused on providing assistance to rural agencies, including assistance related to alternative project delivery approaches.
BPC has long advocated for federal investments in water affordability.
- Increasing federal funding for drinking water, including state revolving loan funds; and
- Reauthorizing the Water Infrastructure Finance and Innovation Actprogram, which provides long-term, low-cost loans for significant water infrastructure projects.
Building Smarter, Cleaner, and Faster
BPC has aggressively pushed for improving the infrastructure permitting processes to prevent regulatory delays from miring down projects like roads and renewable energy.
- Reauthorizing FAST-41;
- Codifying One Federal Decision; and
- Establishing a federal goal of approving projects within two years and expanding federal permit authority related to transmission.
Clean Energy and Climate
BPC’s energy project has strongly supported a policy agenda focused on maintaining America’s commercial leadership in clean energy while reducing the risks of climate change. This legislation reflects many of BPC’s energy policy priorities, across a range of technologies and infrastructure from carbon capture and removal to offshore wind.
- Appropriating funding for demonstration projects authorized under the Energy Act of 2020 (such as energy storage demonstration, carbon capture, direct air capture, renewable energy, and advanced nuclear reactors);
- Providing funding for direct air capture regional hubs and a DAC tech prize competition;
- Facilitating the buildout of CO2 pipeline infrastructure through the SCALE Act and funding carbon capture utilization and storage;
- Investing in the buildout of electricity transmission infrastructure;
- Supporting our nascent offshore wind industry by funding the DOT Port Infrastructure; Development Program and the DOT Marine Highways Program; and
- Investing in natural solutions for climate resilience and mitigation.