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Bluefield Research

U.S. Infrastructure Investment and Jobs Act: Key Funding & Policy Developments

U.S. Infrastructure Investment and Jobs Act: Key Funding & Policy Developments

On 15 November 2021, the US$1.2 trillion Infrastructure Investment and Jobs Act (IIJA) was signed into law, including US$550 billion in new spending for infrastructure improvement projects and US$55 billion specifically for water-focused projects across the U.S.

One year after the law’s passage, federal agencies have provided updates on key questions related to funding priorities and program requirements. On 15 November 2022, the U.S. White House released a progress report on IIJA funding announced to date. As of Q4 2022, total announced funding associated with the legislation had reached US$186.3 billion, to be distributed across more than 6,900 projects in over 4,000 U.S. communities. Of this total, US$10.5 billion has been announced for water-designated projects.

Further, on 3 November 2022 the U.S. Environmental Protection Agency’s (EPA) Office of Water released implementation guidelines for the Build America, Buy America (BABA) domestic sourcing requirements that were enacted as part of the IIJA. In addition to providing further clarification on which products and materials will be subject to BABA requirements, the agency also provided guidance on compliance documentation and waiver application procedures.

To date, the EPA has finalized BABA waivers for projects being funded through two key water sector funding channels: the State Revolving Fund (SRF) and Water Infrastructure Finance and Innovation Act (WIFIA) programs.

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