House Passes $1.5 Trillion Infrastructure Package, Senate Unlikely to Act
Jul 9, 2020
The bill also includes:
- $500 billion for highways, bridges, roads, and rail
- $25 billion for the Drinking Water State Revolving Fund to provide grants for clean drinking water systems
- $40 billion for new wastewater infrastructure funding
- $70 billion for grid modernization, including electric vehicle charging and Smart Community infrastructure
- Extension of the 30 percent Investment Tax Credit for solar projects until 2025 (with a gradual reduction to 10 percent by 2028).
- Extension of the Production Tax Credit for renewable energy projects through 2025
- Extension of the 45Q tax credit for carbon capture and sequestration projects
- $250 million annually for 5 years for grants to improve natural gas distribution infrastructure
ASME will continue to report on any advancements related to comprehensive infrastructure package.