This past week, President Biden signed the Infrastructure Investment and Jobs Act. The bill, commonly referred to as the Infrastructure Bill, provides for $1.2 trillion in spending over the next five years on the nation’s infrastructure and is one of two major legislative initiatives of the Biden Administration, the other being Biden’s $1.75 billion Build Back Better Bill focused on “soft” assets such money to fight climate change, for universal free preschool, for paid family and medical leave, etc.

While the Infrastructure Bill contains its fair share of pet projects, economists and historians generally agree that the Infrastructure Bill is the largest investment in the nation’s infrastructure since President Franklin D. Roosevelt’s “New Deal” in 1933.