President Biden signed the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA) into law on November 15, 2021. The bill covers spending from FY22 through FY26, and includes reauthorization of the FAST Act, the prior five-year federal transportation spending plan.
Of the $1.2 trillion, $550 billion is new spending, and $284 billion is allocated for transportation improvements. The State of Virginia will receive $7 billion for highway improvements, $1.2billion for public transportation, $738 million for water infrastructure, $537 billion for bridge repairs, $106 million for electric vehicle infrastructure, and $65 million for broadband.
Funding through existing programs will begin within the next six months. New programs, such as for electric vehicle infrastructure, will likely take more time to begin. CSPDC staff will continue to track the bill, and will inform localities of upcoming IIJA funding opportunities