Biden Administration Says 2023 IIJA Spending Will Equal Or Exceed 2022’s Level

Reuters reports, today is the first anniversary of President Biden’s approval of the landmark Infrastructure Investment and Jobs Act (IIJA). The White House announced that $185 billion of the nearly $1 trillion in funding authorized under the law has already been released, and the administration will authorize spending the same amount or more in 2023. National Economic Council Director Brian Deese said a trio of administration-backed funding laws including IIJA will generate approximately $3.5 trillion in investment over the next decade, and he dismissed concerns that the spending will fuel inflation.

The White House issued a detailed fact sheet on spending over the past year, much of which was dedicated to improving the nation’s transportation networks and systems. The document also touts administration policies and programs aimed at guiding state and local implementation of IIJA.