A new US federal bill recently signed into law by President Joe Biden stipulates that US$17 billion will be allocated for the improvement of infrastructure at coastal ports, inland ports, and waterways.
Among other things, the Infrastructure Investment and Jobs Act will increase federal flexibilities for port grants, accelerate port infrastructure grant awards, announce new construction projects for coastal navigation and inland waterways, and launch the first round of expanded port infrastructure grants funded through the Bipartisan Infrastructure Deal.
One of the immediate actions under the legislation calls on the Department of Transportation to allow port authorities across the country to redirect project cost savings toward tackling supply chain challenges. Further near-term actions under the same legislation will meanwhile include programs to modernise ports and marine highways with more than US$240 million in grant funding within the next 45 days and projects for US Army Corps of Engineers (USACE) construction at coastal ports and inland waterways within the next 60 days.