WASHINGTON – On November 5, 2021, the $1 trillion infrastructure bill was signed into law, providing funds for key infrastructure initiatives that will strengthen U.S. transit. The new law promises to reach almost every corner of the country with projections of 2 million job openings per year for the next decade.
What Infrastructure Does This Bill Affect?
- Roads and bridges
- Public transit
- Passenger and freight rail
- Electric vehicles
- Internet access
- Modernizing the electric grid
- Water and wastewater
Roads and Bridges are Primary Concern
Roads and bridges are a vital sector of the bill. According to USA Today, an estimated 45,000 bridges country-wide need repair. The bill will provide support for repairs and construction across 20,000 miles of roads and highways. Repairs will allow for safer roads and bridges – leading to safer driving and an increase in profit for the industry.
Other Infrastructure Issues
The transportation and logistics industry is a vital part of the economy. Specific sectors within the industry cannot perform at maximum efficiency without modern and functional infrastructure.
The American Trucking Association states that due to road blockage and traffic jams, 1.2 billion hours of productivity are lost annually for the trucking industry. This is equivalent to a loss of 425,000 truck drivers, which adds $75 billion to the country’s freight bill. Backups due to unstable roads and bridges cause semi-trucks to burn 6.87 billion gallons of fuel, which is nearly 13% of the total fuel consumption. The expansion of updated roads and highways will reduce wasted fuel and the amount of time drivers spend in traffic.
3PLs can Provide Assistance
Freight Waves says the primary supply chain issues the country is facing are a result of a lack of freight capacity. Third-party logistics companies (3PLs) have the opportunity to fill capacity by pairing customers with carriers to create mutually-beneficial relationships. As infrastructure becomes more reliable, trucking companies will be able to transport commodities with safety and security.
Additionally, increased infrastructure efficiency will lead to decreased wait times/delays for truck drivers who make less money while waiting on inefficient operations. FWF provides solutions to keep drivers on the road through real-time tracking and consistent communication for shipments across North America.