(Source: Railway Age, June 25, 2021)
NEW YORK — President Joe Biden and a bipartisan group of U.S. Senators have agreed on a five-year, $973 billion infrastructure framework that includes $579 billion in new spending over that period, of which $312 billion is slated for transportation. Of the new transportation spending, public transit would receive $49 billion; passenger and freight rail, $66 billion; ports and waterways, $16 billion; roads, bridges and major projects, $109 billion; and airports, $25 billion. The framework also includes $266 billion for other new infrastructure spending on water, broadband and power infrastructure, for instance. Added to a baseline of $394 billion, the framework would total $973 billion over five years. If extended to eight years, the entire package would total $1.2 trillion—55% of what the White House originally proposed, and which most Congressional Republicans opposed.
Full story: Railway Age