President Biden signed the bipartisan, $1.2 trillion infrastructure bill into law on Monday. “This is probably the most significant allocation for physical reconstruction that we’ve seen since the 1930s,” says Micheal Hiltzik, business columnist for the LA Times.
California will get more than $45 billion — the most out of all the states — and that’s meant to bring thousands of new jobs. Roughly two-thirds of the money will go toward roads and bridges, and the rest will cover airport repairs, internet access, water projects, fire resiliency.
“A lot of it is going to go to deferred maintenance. So it’s going to upgrade roads, bridges, [and] airports that have just been overlooked over the years.”
It’s unclear how much of the state money will go to local governments, but Hiltzik says the City of LA has already budgeted $3 billion in spending this year, and much of the federal funding will pay for projects that are already underway.