Posted 11/22/2023, 8:34:38 PM
Biden's Infrastructure Law Facing Delays, Headwinds Despite Funding Promises
- Public infrastructure spending has fallen by over 10% in real terms since Biden's infrastructure law passed despite promises of massive investment
- Delays due to inflation, "Buy America" rules, new requirements, and slow disbursement of funds from federal to state/local levels
- Headwinds like states substituting federal funds for their own infrastructure budgets and difficulties coordinating across federalist system
- Some projects finally getting underway, but permitting and regulations still hindrances
- Historical context first major infrastructure package in decades, so will take time to properly implement