RE:RE:House passes bipartisan $1.2 trillion infrastructure billol_griz wrote: Encouraging, but soooo watered down. How much will be left for transport infrastructure and our niche?
Otherwise, I worry about our SP base. How many of us are now overweight through averaging down and will trim on a rise? I know I will try to be prudent and do so - maybe not half, but a good chunk. We'll certainly need the return of institutional enthusiasm for the stock.
Also in the package is $11 billion for transportation safety, including a program to help states and localities reduce crashes and fatalities, especially of cyclists and pedestrians, according to the White House. Money for transit and rail
The package would provide $39 billion to modernize public transit, according to the bill text. That's less than the $85 billion that Biden initially wanted to invest in modernizing transit systems and help them expand to meet rider demand.
The funds would repair and upgrade existing infrastructure, make stations accessible to all users, bring transit service to new communities and modernize rail and bus fleets, including replacing thousands of vehicles with zero-emission models, according to the White House.
The deal would also invest $66 billion in passenger and freight rail, according to the bill text. The funds would eliminate Amtrak's maintenance backlog, modernize the Northeast Corridor line and bring rail service to areas outside the Northeast and mid-Atlantic regions, according to the White House. Included in the package is $12 billion in partnership grants for intercity rail service, including high-speed rail.
The funding is less than the $80 billion Biden originally wanted to send to Amtrak, which
he relied upon for decades to get home to Delaware from Washington, DC.
Still, it would be the largest federal investment in public transit in history and in passenger rail since the creation of Amtrak 50 years ago, according to the White House.