Infrastructure Bill To Boost Wholesale Distribution Industry
On November 15, President Joe Biden signed into law the $1.2 trillion infrastructure bill to fund the most extensive US infrastructure revamp in decades in a push to upgrade the nation’s infrastructure and transition to cleaner energy.
The newly-signed infrastructure bill that has recently come into effect will initiate the nationwide reconstruction and construction of rail, ports, airports, roads and bridges, the electric grid, and water systems.
The bill will further boost the wholesale distribution industry and other parts of the infrastructure supply chain. The list of beneficiaries includes distributors of building and construction materials, steel, machinery, and equipment, electrical and plumbing, wireless and telecom materials.
“The Bipartisan Infrastructure Deal makes the most significant investment in roads and bridges in the past 70 years, the most significant investment in passenger rail in the past 50 years, and the most significant investment in public transit in our nation’s history,” Biden wrote on Twitter, adding, “The Bipartisan Infrastructure Deal will modernize our ports, our airports, and our freight rail to make it easier for companies to get goods to market. It will reduce the supply chain bottlenecks we’re currently experiencing and lower costs for you and your family.”
According to the latest Washington Post-ABC poll, Biden’s ratings are in a downward spiral, with figures indicating only 41% of approving votes. The infrastructure bill might give a new momentum to Biden’s popularity, along with other pending social packages.
The new law is expected to create millions of jobs in the wholesale distribution industry hard-hit by COVID-19 and disruptions in the supply chain. Also, it will translate into lower costs for families while tackling climate change. On their side, distributors are expected to secure the technology and distribution capacity, as well as deploy digital tools that will increase productivity and improve efficiency.
Julia A. is a writer at SmallBizGenius.net. With experience in both finance and marketing industries, she enjoys staying up to date with the current economic affairs and writing opinion pieces on the state of small businesses in America. As an avid reader, she spends most of her time poring over history books, fantasy novels, and old classics. Tech, finance, and marketing are her passions, and she’s a frequent contributor at various small business blogs.
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