16 Nov The New Infrastructure Bill and the Trucking Industry
$1.2 Trillion Infrastructure Bill
The long-awaited infrastructure bill with a price tag of $1.2 trillion finally passed the House of Representatives late November 5th. And it couldn’t come at a better time. According to the American Society of Civil Engineers’ Infrastructure Report Card, “43% of the 4 million miles of public roadway are in poor or mediocre condition and 42% of the 617,000 bridges in the US are more than 50 years old.”
The much-needed bill includes $550 billion in new spending for highways, bridges, and other transportation measures. This bill promises an unprecedented investment in our country’s roads and bridges. Chris Spear, president and CEO of American Trucking Associations praised the bipartisan support for the bill asserting that the congress people who voted for the bill’s passage, “put their constituents before themselves to help seal this achievement [cementing] a lasting legacy that the American people will now see, feel, and use for many decades to come.”
As President Biden gets ready to sign the bill, many people are wondering what exactly the bill offers the transportation industry.
The answer is: quite a lot.
What’s in it for trucking?
Here’s a brief overview of how this bill will impact the logistics industry.
- $110 billion to fix roads and bridges.
- $66 billion in freight and passenger rail.
- $39 billion in public transit systems
- $7.5 billion to build out nationwide electric vehicle charging and alternative fueling.
- $16 billion to improve ports and waterways.
- $52 billion a year from 2022-2026 to improve safety measures.
- $600-$700 million a year to invest in bridges.
- $1 billion a year for freight and highway projects through 2026.
In addition, the bill provides funding for:
- Initiatives to grow the number of people entering and staying in the trucking workforce as the driver shortage continues to plague the industry.
- The recruitment of younger drivers, and establishes a pilot program based on the DRIVE-Safe Act “authorizing up to 3,000 18-20 year-old drivers at any one time to undergo advanced safety training in order to participate in interstate commerce.”
- A Women in Trucking advisory board for the FMCSA. At the current time, women make up only 7.8% of licensed truck drivers.
Here at AM Transport, we applaud the passage of this landmark bill. If we’ve learned anything at all since the advent of the COVID-19 pandemic, it’s just how crucial the trucking industry is to the economy of the United States. Trucks continue to move over 70% of all goods transported in the United States. Now is the time to make these investments that will have lasting impact on our economy and our industry.