Congress has sent the Infrastructure Bill to President Joe Biden’s Desk. The President calls the passage of the $1 Trillion plan a “monumental step forward for the nation.” Biden and his administration say the Build Back Better plan is a generational investment in America.
HUD Secretary Marcia L. Fudge noted the historic impact of the Build Back Better plan saying “Promises have been kept.”
For Instance, the Senate passed the legislation in August. However, it stalled in the house after much debate over what to include in the bill. After several hurdles, $550 billion of new federal investments will soon go towards improvements for roads, bridges, mass transit, railroads, airports, ports, as well as waterways.
Infrastructure Bill: Impact on Affordable Housing
In addition, the infrastructure bill will include more than $150 billion to improve the housing industry. From the beginning, the Biden Administration has insisted housing is infrastructure. In fact, leaders believe the investments could transform the housing industry. The plan calls for the removal of lead pipes in existing public housing as well as the construction of more than 500,000 new homes.
Finally, the Biden Administration plans to address critical infrastructure needs for those living in rural communities. First, the infrastructure plan will allocate millions to improving water systems in rural areas. Second, the plan focuses on connecting those in rural areas with the rest of the world. Specifically, $65 billion will go towards improving broadband internet access nationwide.