THE AMERICAN JOBS ACT OF 2011 - WHAT'S IN IT FOR CONSTRUCTION?

The details of President Obama’s “Jobs Bill” (correctly The American Jobs Act of 2011) have now been made public and it certainly contains some money for stimulating the construction industry. My quick flick through the Bill turned up the following sums: • “…for the modernization, renovation, and repair of elementary and secondary school buildings in public school districts across America…” $25 billion,
• “…to modernize, renovate, or repair existing facilities at community colleges…” $5 billion,
• “…to carry out airport improvements..” $2 billion,
• “…for restoration, repair, construction and other activities [related to highway infrastructure] and for
passenger and freight rail transportation and port infrastructure projects…” $27 billion,
• for high speed rail and other passenger train services $4 billion,
• for Amtrak $2 billion,
• for “state of good repair” capital projects $6 billion, and
• for surface transportation infrastructure $5 billion.

In addition, the Bill also includes provision for the establishment of “…a United States Government-owned,
independent, professionally managed institution that could provide credit support to qualified infrastructure
projects of regional and national significance, making transparent merit-based investment decisions based on the commercial viability of infrastructure projects, would catalyze the participation of significant private investment capital”.

Some good and interesting ideas…some of which may even come to fruition depending on just how Congress views the Bill as a whole and its pieces individually.

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posted by The QS

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