President Joe Biden will sign the infrastructure bill into law on Monday at a large White House ceremony attended by members of the Democratic and Republican parties, as well as labor and business association leaders.
The infrastructure bill, which passed Congress last week, is one of the few policy victories Biden has scored since he arrived at the White House in January of this year.
According to a White House statement, Biden will give a speech in which he will explain how the $1.2 trillion legislation will help “rebuild” the middle class with millions of new jobs, rebuilding ports, highways and high-speed internet.
Specifically, the package calls for more than $110 billion to repair roads, bridges and highways, and $66 billion to promote passenger and freight rail.
The latter investment represents the largest injection of funds into the country’s rail network in half a century.
The bill also allocates $55 billion to address water supply problems, such as replacing all lead pipes, and provides $65 billion to modernize the electric grid.
It also allocates billions of dollars to rehabilitate irrigation ditches, reform ports and airports, and expand broadband access.
The legislation will also provide $7.5 billion to create a network of electric vehicle charging stations.
In total, the project is valued at $1.2 trillion, although it only contemplates some $550 billion in new spending.