MSCI Victory: Infrastructure Bill Heads To President Biden’s Desk
Back in February 2021, MSCI launched www.build-now.org, an initiative that made the case for increased infrastructure spending in both the United States and Canada.
In an important victory for the U.S. industrial metals industry, last week the U.S. House of Representatives approved an historic $1.2 trillion infrastructure spending bill. The Senate had approved the legislation in August so the bill now heads to the White House where President Joe Biden has said he will sign it.
As this White House fact sheet explains, the legislation includes:
- $110 billion for roads and bridges;
- $73 billion to upgrade the electric grid;
- $66 billion for passenger and freight rail;
- $65 for broadband, including significant investments in rural broadband;
- $55 billion to improve water infrastructure and quality;
- $50 billion to address climate change, $21 billion for environmental cleanup, and $15 million for electric vehicles;
- $42 billion for ports and airports; and
- $39 billion for public transit.
In a separate fact sheet, the White House has outlined how the legislation will impact each U.S. state. MSCI would like to thank all of the member company employees and leaders who leant their voices to this effort.