US Senate has passed a historic infrastructure bill which will send $17 billion to the ports sector.
The Bipartisan Infrastructure Investment and Jobs Act will look to repair and maintain backlogs, reduce congestion and emissions near ports and airports, and drive electrification and other low-carbon technologies.
The COVID-19 pandemic has placed significant strain on US – particularly west coast – ports and terminals, as well as the inland supply chain.
US Senators Rob Portman and Kyrsten Sinema commented, “The bipartisan legislation the Senate is now considering is a historic investment in our nation’s core infrastructure needs – including roads and bridges, rail, transit, ports, airports, the electric grid, broadband, and much more.
“This investment is being made without new tax hikes on everyday families.
“Independent studies have shown that the long-term spending for capital assets in this measure will improve economic efficiency and productivity, increase GDP, generate additional revenue, and will not increase inflation.”
The investment comes following a decision on 12 July to increase cooperation on oversight of the ocean liner shipping industry between the Federal Maritime Commission (FMC) and the Department of Justice (DoJ) Antitrust Division.
US Secretary of Commerce Gina M. Raimondo added, “The Infrastructure Investment and Jobs Act represents a historic investment in our country that will strengthen our economy to benefit all Americans for decades to come.
“This is a generational achievement that both parties can be proud of, and there is still more to do as we carry out President Biden’s Build Back Better agenda. I look forward to continued engagement with Congress to make progress on these critical challenges.”