New Legistlation Set To Positively Impact The Construction Industry
Since taking office in January 2021, President Biden has prioritized COVID relief efforts, namely vaccine rollout and unemployment benefits. However, he’s also made a commitment to improving America’s infrastructure. This is evidenced by his approval of the Infrastructure Investment and Jobs Act on July 28.
If approved by the Senate, this bill provides a $550 billion investment in our roads and bridges, water infrastructure, internet connectivity, and more. This will add 2 million jobs per year over the next decade so we can reach full employment, increase participation in the labor force, grow our economy, and become more competitive with other countries.
The Infrastructure Investment and Jobs Act is the largest federal investment in many areas, including public transit, passenger and freight rail, bridges, clean drinking water, wastewater, and high-speed internet. The construction industry is poised to reap many of these benefits, which may change the way businesses are run.
Benefits for the Construction Industry
Several areas of the construction industry will benefit from this new Act.
About 173,000 miles of highway and major roads, as well as 45,000 bridges, are considered to be in poor condition. The new bill allows for $110 billion to fund the repair and reconstruction of roads, bridges, and other major projects.
Keeping people safe while on the road is highly important. The bill invests $11 billion in transportation safety programs. One such program, Safe Streets for All, helps communities improve roadways for cyclists and pedestrians.
The transportation industry may call on additional help from construction laborers as they work to repair and expand public transit, passenger and freight rail, electric vehicle charging stations, and airports, among other areas.
Previous transportation infrastructure has divided communities and left out those who are most in need of affordable transportation. This bill will provide $1 billion for planning, designing, demolishing, and reconstructing street grids, parks, and other infrastructure to reconnect communities.
Other areas of the bill include $50 billion for making our infrastructure more resilient against climate-change-related weather events, $55 billion to promote clean drinking water, $65 billion to ensure every American has access to high-speed internet, $21 billion for reducing pollution, and $65 billion to improve our power and energy grids.
Prepare for the Future of Construction with a Heavy Equipment Tracker
With this influx of new projects for the construction industry, contractors are about to be busier than ever. They will be hiring more laborers than ever before, and purchasing additional equipment to keep up with building demands. Tracking all those new assets may become more hassle than anything without a GPS tracker for heavy equipment.
Additional assets means additional risk. Theft and damage are more likely to occur, and you’ll want to make the best use of your new equipment. A heavy equipment tracker paired with an all-encompassing platform such as CallPass’s LANA Asset, allows you to optimize your operations. Helping you keep an eye on the location of each piece of equipment, yes, but also tells you when one is missing, damaged, or in need of maintenance. With a clear picture of all your equipment, you can optimize their use to get more jobs done faster.
Prepare for the Future of Construction with a Heavy Equipment Tracker
The future of the construction industry is already here. Get ahead of it by contacting CallPass by clicking the button to learn more about our GPS trackers for heavy equipment and how they can help you take advantage of this new legislation.
