FUNDING & CONSTRUCTION DEMAND

$85.46 billion for drinking water state revolving funds (SRF). $15 billion for lead service line replacement, and $9 billion to address PFAS also known as “forever chemicals,” which are a growing water supply concern.

Passed a year and a half ago, the Infrastructure Investment and Jobs Act (IIJA), combined with the Inflation Reduction Act of 2022 (IRA) has funded thousands of projects, with many more still to come.

Created two new programs to fund bridges. 1) $212.5 billion over 5 years for the Bridge Formula Program (BFP) to rehabilitate and replace bridges identified as “poor” or “fair” condition. 2) $12.5 billion over 5 years for the Bridge Investment Program (BIP) for competitive grants to replace, rehabilitate, preserve, or make resiliency improvements to bridges with over half the funds focused on large bridges (>$100 million).

Shortly after the IIJA, the United States Army Corps of Engineers (USACE) authorized billions of dollars through the Water Resource Development Act (WRDA) in December 2022. WRDA 2022 authorized $30.4 billion in federal funds for 25 new USACE projects. Accounting for non-federal funding, Engineering NewsRecord (ENR) estimates that these 25 projects will cost $51.6 billion.

$350 million for highway rehabilitation and expansion over a 5-year period, providing the largest year-to-year increase in federal highway investment since the late 1950s. ARTBA economists utilize federal and state data to quantify the highway, bridge and safety improvements underway that include this landmark measure.