The Infrastructure Investment and Jobs Act of 2021 (IIJA) was passed by the 117th Congress and signed into law by President Joe Biden on November 15, 2021. It’s a once-in-a-generation legislation that is estimated to add 2 million jobs to the economy each year over the next decade and modernize our nation’s infrastructure in communities across the country. The bipartisan infrastructure law also takes action on a host of climate initiatives, including promoting our clean energy infrastructure, advancing environmental justice initiatives, and making the first major investment in America’s climate resilience.
Local agencies can access IIJA transportation funds in three general ways: 1. Meeting certain eligibility criteria for formula funds; 2. Receiving suballocations from state governments; and/or 3. Applying to the U.S. Department of Transportation (USDOT) or a state department of transportation for competitive grant opportunities. The IIJA also provides just over $100 billion in direct, competitive grant opportunities through USDOT to local governments over the life of the bill.
Total Funding (FY22-FY26): $1.2T
$550B in new spending
$567B transportation funding for All DOT modes (re-authorization)
Out of the $550B in new spending, $350B for highway programs
- More transportation funding for existing and new projects – 29% increase compared to the FAST Act FY 2021
- A lot of money will go down to the state and local level
- State and local agencies funding will go through formulaic traditional funding paths
- There will be $100 billion in competitive grant opportunities