Water & Waste Digest
Runaway inflation may impact the $1.2 trillion Infrastructure Investment & Jobs Act.
The infrastructure law provides only $550 billion in new spending, reported The New York Post. Of the $550 billion in new spending, $55 billion is allocated to drinking water, wastewater, and storm water infrastructure funding.
For instance, there is a current 7.5% inflation rate in the roads and bridges industry, which is the highest in 40 years. According to The Wall Street Journal reported, construction inflation overall is up 13% from 2021.
In President Biden's State of the Union address, he pointed out the growing cost of living and his plan to tackle inflation, citing plans to cut energy costs and more, reported CNN. As of January, inflation for used and new vehicles made up nearly a third of overall price increases, added Biden.
