What’s happening: A new study from IHS Markit, a global information leader with expertise spanning numerous industries, has found that pending federal legislation could deliver tangible economic benefits for every state if approved by lawmakers.
Why it matters: The study projects that states can expect at least one federal-aid highway project in every county if the Infrastructure Investment & Jobs Act (IIJA) is passed. Every $1 invested to fix roads generates $3.60 in economic activity and increased economic activity because of IIJA-related spending would add $86 billion in state and local tax revenues by 2027. The study also estimates more than 250,000 jobs will be created by 2025 as IIJA investments encourage economic growth.
What’s next: The House of Representatives needs to pass the IIJA before the end of the month to avoid expiration of current infrastructure funding. The historic investments in the IIJA, combined with recent increases in state transportation funding, provide the road map for a more mobile and economically prosperous American quality of life.
Click here for a state-by-state breakdown of IIJA’s economic impacts.