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January 31, 2024
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By
Alan Kennedy
Graphics & Design
- Sabrina Fortin
- Zack Aboulazm
The following content is sponsored by Global X ETFs
Part Two: Breaking Down the 117th Congress’s $1.2T Infrastructure Investment
The 117th Congress has passed several acts, including the CHIPS Act, the Bipartisan Infrastructure Law, and the Inflation Reduction Act. These will provide the U.S. with an infrastructure investment of over $1.2 trillion between 2021 and 2030. The goal is to modernize the nation’s declining infrastructure and complete repairs to many significant projects.
In part two of the Rejuvenating U.S. Infrastructure series, we partnered with Global X ETFs to investigate how this incredible allocation has been used so far.
U.S. Investment in Infrastructure, 2021-2023
| Investment Area | Total Invested (2021-2023) |
|---|---|
| Roads, Bridges, and Major Projects | $70.2B |
| Resilience | $9.8B |
| Airports and Federal Aviation Administration Facilities | $8.1B |
| Safety | $5.6B |
| Clean Energy and Power | $5.5B |
| Ports and Waterways | $4.1B |
| Water | $3.7B |
| Broadband | $3.5B |
| Public Transportation | $3.5B |
| Clean Energy | $1.9B |
| Environmental Remediation | $1.6B |
| Climate Resilience | $1.0B |
| Electric Vehicles, Buses, and Ferries | $1.0B |
| Other | $0.5B |
| Clean Buildings and Homes | $0.4B |
| Parks and Conservation | $0.3B |
| Clean Transportation | $0.2B |
As you can see, over two-thirds of the total allocation has gone to roads, bridges, and other major infrastructure projects, such as creating new tunnels.
However, it’s important to note that each state’s investment level varies dramatically.
For instance, 76% of Wyoming’s current investment was in climate or environmental initiatives such as Project Bison, the world’s most extensive carbon capture program. Project Bison could remove up to 5 million metric tons of CO2 by 2030.
Investment in Major Infrastructure Projects, 2021-2023
So far, much of Congress’s investment in the nation’s backbone has been strategically weighted toward a few significant and much-needed major projects. These include bridge repairs, maintenance of major water works, and power restoration and improvements.
| Rank | Project Name | Total Invested |
|---|---|---|
| 1 | Brent Spence Bridge Restoration, Ohio | $1.39B |
| 2 | Reactor Demonstration Program in Kemmerer, Wyoming | $1.32B |
| 3 | Diablo Canyon Power Plant Improvement | $1.1B |
| 4 | South Florida Ecosystem Restoration | $1.1B |
| 5 | Funding the Montana Water Rights Protection Act | $1.0B |
| 6 | Complete Construction Work on Montgomery Lock and Dam, Pennsylvania | $0.9B |
| 7 | Ecosystem Restoration in the Upper Mississippi River | $0.73B |
| 8 | Replacement Lock at Sault Ste Marie, Michigan | $0.48B |
| 9 | Complete Kentucky Lock and Dam, Tennessee River | $0.47B |
| 10 | Fargo-Moorhead Metropolitan Flood Risk Management Project | $0.44B |
Yielding Positive Results
Between 2021 and 2023, the 117th Congress invested more than $120 billion in U.S. infrastructure.
Although the nation has vowed to spend a further trillion dollars on its infrastructure, it is already seeing a return on its investment by creating tens of millions of new jobs and stimulating billions of dollars in private investment.
In part one, we discussed why the U.S. needed to invest in infrastructure. In the third and final part of the Rejuvenating U.S. Infrastructure series, we explore how the U.S. plans to use its investment as an opportunity to accelerate the transition to clean energy.
Click here to learn more about the Global X U.S. Infrastructure Development ETF.
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Related Topics: #globalx #infrastructure #infrastructure investment #investment #jobs #u.s. congress #U.S. infrastructure #u.s. politics
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