How The Infrastructure Investment And Jobs Act Will Impact Illinois

By Samuel Stebbins, 24/7 Wall St. - Chicago

August 18, 2023

In today’s polarized political climate, few issues in Washington receive bipartisan support. Investment in the nation’s infrastructure, however, is a notable exception – and with good reason. A 2021 report from the American Society of Civil Engineers assigned U.S. public infrastructure an average letter grade of “C-” based on performance in 17 major categories, including roads, drinking water, transit, dams, and bridges. According to the report, the U.S. needs to invest an additional $2.6 trillion in infrastructure over the next 10 years.

To help address this shortfall, President Joe Biden signed the Infrastructure Investment and Jobs Act into law in November 2021. The bill authorizes $1.2 trillion in federal spending over a five-year period, including $550 billion in new spending to rebuild public works and transportation infrastructure. (Here is a look at Biden’s approval rating in every state.)

Much of this money will be distributed to state governments and has already been earmarked for certain projects, including bridge and highway repair, electric vehicle charging station construction, broadband internet expansion, airport improvements, cybersecurity, and wildfire protection. While the largest states by population are the ones receiving the most federal dollars, they are not necessarily the states where federal infrastructure spending will have the largest impact.

Illinois is expected to receive $17.8 billion federal infrastructure investment. Adjusting for population, this comes out to about $1,390 per capita, the 25th highest among the 50 states.

Federal highway aid will account for 55.0% of infrastructure investment in the state, more than any other category, followed by public transportation, which will account for 22.5% of federal spending, and water infrastructure, at 9.5%.

All data in this story was compiled by U.S. News & World Report in its article, The States Benefiting the Most From the Infrastructure Deal.

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This story was originally published by 24/7 Wall St., a news organization that produces real-time business commentary and data-driven reporting for state and local markets across the country.