Infrastructure Bill Signed Into Law
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On Monday, President Biden signed the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA) into law. What we should see in South Carolina is a stable 5-year federal funding source. Part of those allocations must be used towards things like Electric Vehicle infrastructure and Bridge Replacement/Rehabilitation/Preservation/Construction. (State by State Funding Estimates). Some high points for the asphalt industry, for example: $25 billion for airports, Buy America exemption for construction materials, no pavement-type selection mandates.
Last month, the SCDOT Commission approved $1.84 billion in amendments to the 10-year plan (pending passage of the IIJA). That included $266 million in pavements, $137 million in interstate capacity, and $108 in safety projects. Here is the link for the full presentation.
