The US Congress is currently reviewing two major laws, the Build Back Better Act and the Infrastructure Investment and Jobs Act. In this special edition of The Business Corner, we’ll be discussing some of the benefits of billing – which is expected to come soon.
Widely known as the Law of Atonement, the Build Back Better Plan is a $ 3.5 trillion initiative that will create millions of jobs and make critical investments in multiple areas.
This includes additional funding to combat the climate crisis, fight droughts and forest fires, and create new jobs in clean energy and manufacturing. Funding is also provided for affordable housing, down payment assistance and efforts to end homelessness.
The bill includes $ 322 billion in support of federal housing programs. According to the Ministry of Housing and Urban Development, there were more than 580,000 people who were homeless in the past year. In addition, minority and low-income Americans have historically struggled to obtain funding to buy a home.
Parts of the vital infrastructure of our country have to be modernized or completely replaced. Legislation allows $ 30 billion to completely replace lead lines in drinking water systems in the United States, which will help improve community health by providing access to healthier drinking water.
There is also $ 5 billion in local and state projects that address environmental and health issues. In my view, this is a critical part of funding as it allows the local community to determine what should be the priority and where the money should go, provided it is focused on providing solutions for the environment.
The Infrastructure Bill provides about $ 65 billion to modernize the country’s electricity infrastructure, including investments in research and development. We saw the challenges faced by families losing power in Texas last year, and advancement in grid technology will make it easier to provide continuous power to all Americans.
These investments in energy, housing and infrastructure are what we need now, especially given the problems our economy has been through due to the COVID-19 pandemic.
I hope this article provides additional clarity on the benefits of the two bills under consideration by Congress.
From my point of view, they are a big step in the right direction.
Teresa M. Lundy is the director and founder of TML communication, a strategic public relations, crisis communications, and community engagement firm serving corporations, nonprofits, and government agencies. Follow Teresa on Twitter @TeresaMLundy