It’s been a long road, but the bipartisan infrastructure bill—formally known as the Infrastructure Investment and Jobs Act—has been passed by Congress, ushering in some significant manufacturing priorities.
The big picture: The $1.2 trillion bill is full of provisions that the NAM has spent years advocating for—from the infrastructure goals in our Building to Win agenda, to the climate policy objectives in The Promise Ahead, to the economic recommendations in our plan to strengthen the manufacturing supply chain. The NAM was central to ensuring these provisions ended up in the finished bill, and we will remain committed to their implementation once they are signed into law.
The details: The Infrastructure Investment and Jobs Act includes a series of bold, historic provisions that will support manufacturers and promote competitiveness and growth for decades into the future.
- Increased infrastructure investment: The bill invests in traditional infrastructure projects and innovation, including upgrades for roads, bridges, ports, rail and public transit, as well as a historic $65 billion investment in reliable broadband for rural communities across the country.
- Smart policies to speed projects: The bill makes adjustments to permitting, regulations and data collection to create more streamlined processes that ensure projects can start sooner and proceed more effectively.
- Tackling climate change: The bill makes groundbreaking investments in the work that manufacturers are doing to mitigate climate change, allocating $65 billion to grid modernization and providing additional funds for carbon capture technology, alternative fuel stations, zero-carbon nuclear energy, clean hydrogen, climate adaptation and resiliency programs and initiatives to strengthen U.S. energy innovation and competitiveness, among other provisions.
- Cleaner communities: The bill also includes investments in the health and wellness of American communities, including upgrades of drinking water systems, the cleaning of polluted sites and the promotion of efficient manufacturing that reduces waste while increasing profits, including for small and medium-sized firms.
- Retaining competitive tax gains: The bill protects critical gains secured by manufacturers in previous tax reform laws, continuing the policies that served as “rocket fuel” for the industry.
What we’re saying: “This moment and the transformational change it will bring about has been decades in the making,” said NAM President and CEO Jay Timmons. “Manufacturers commend Congress for coming together to pass this historic, bipartisan legislation. The Infrastructure Investment and Jobs Act makes America stronger, with a promise to renew and revitalize our nation’s physical infrastructure, improving productivity and quality of life for everybody—and without raising taxes or jeopardizing economic growth and manufacturing jobs.
“Failure to invest has been a drain on America’s economy, costing families and businesses significant time and money. This type of investment will enable us to continue to grow our economy and get started on building the world-class infrastructure that will enable us to lead through this century and into the next.”
Learn more: Check out a full overview of the Infrastructure Investment and Jobs Act provisions championed by the NAM here.