December 6, 2021 |
Updated December 6, 2021
What you need to know about Congress’ hard infrastructure package and how it affects your industry.
The Infrastructure Investment and Jobs Act was passed on November 5, 2021, in a bipartisan vote of 228 to 206 in the U.S. House of Representatives. The Senate had previously passed the legislation and it has now been signed into law by President Biden. The more than $1 trillion deal includes new investments in the nation’s roads, bridges, rail and transit systems, waterways and broadband infrastructure, all to be made over the next five years.
Alongside the importance of upgrading our nation’s transportation infrastructure, the National Apartment Association (NAA) has been advocating for housing’s inclusion in the final infrastructure package. The Infrastructure Investment and Jobs Act directs substantial funding for programs aimed at increasing the resiliency and sustainability of the nation’s housing infrastructure:
- More than $65 billion for the rapid deployment of broadband across the country, ensuring internet accessibility for all communities, including low-income and rural Americans.
- $3.5 billion to assist low-income households reduce utility expenses through the Weatherization Assistance Program.
- An additional $3.5 billion to support the Federal Emergency Management Administration’s Flood Mitigation Assistance program, providing jurisdictions with the necessarily financial support and technical assistance to anticipate and prevent flood risk.
- $250 million in state energy grants for recipients to conduct energy audits, purchase energy upgrades or finance building retrofits.
- $225 million allocated for the creation of a grant program that will assist states seeking to implement new and updated building energy codes.
- $40 million dedicated to hiring and training individuals to conduct energy audits of buildings.
- $10 million in grants to higher education institutions to establish training centers to educate and train building technicians and engineers on new building technologies. An additional $10 million is authorized to cover a portion of the cost associated with obtain certification to install energy efficient buildings technologies.
These investments made in the Infrastructure Investment and Jobs Act aim to ensure that housing remains ready to withstand climate and financial-based risk. With the passage of this bill, Congress has recognized, as NAA has emphasized, that housing and infrastructure are inextricably linked.
For more information on the Infrastructure Investment and Jobs Act, please reach out to Jason Lynn, NAA’s Director of Federal Affairs.