Local communities and economies across the United States will see a big boom thanks to the new bipartisan Infrastructure Bill passed last week. Here’s what is in the bill and how it will help. And new access to High-Speed internet will lead the way
The United States is on the path to finishing up 2021 with strong economic numbers.
This year, the USA added 5.8 million jobs to the economy, including 531,000 last month. Unemployment is down to 4.6%.
The economy will continue to grow thanks to the new $1.2 billion infrastructure bill Congress passed last week. Having large support across both sides of the aisle, the new bill will direct federal funding to all 50 states. One major piece of the bill will bring access to high-speed internet to every home in America. With new access to high-speed internet comes new access to high-paying jobs without having to move to big cities.
High-Speed Internet
The Bipartisan Infrastructure Investment and Jobs Act will deliver broadband to rural homes, communities, and businesses across the country — increasing access to jobs, education, health care, banking, and markets for farmers and rural small businesses.
Many rural communities have found it harder and harder to provide good paying jobs to their residents. Since the start of the COVID-19 pandemic, that has become even more challenging. This bill will change that by increasing access and opportunities to work remotely in rural areas. This will give young adults, stuck between making a decision to move to a city for better pay or staying home to invest in their communities, the option to stay in the communities they love.
In total, about $65 billion in federal funding is expected to expand broadband access and 5G connectivity nationwide. Delivering better broadband infrastructure will give more Americans in every part of the country access to high-speed internet, helping provide good paying jobs in remote areas.
Jobs, Jobs, and More Jobs
Last weekend, the administration told an audience that the infrastructure bill will create “millions of jobs” and help ease inflationary pressures by improving links in the supply chain, like funding upgrades to U.S. ports.
Moody’s Analytics predicts the new infrastructure bill will add over 2.4 million jobs by the end of 2025 as spending ramps up on road construction and in preschools. As the US economy hits the lowest unemployment numbers since the beginning of the pandemic, added jobs are expected to increase wages across the country.