Lawmakers in the US haven’t agreed on much in recent years, but the very title of the Bipartisan Infrastructure Law (previously known as the Infrastructure Investment and Jobs Act) suggests that the act should avoid some of the upheaval that will take place following January’s change in government.
Even if he wanted to, incoming president Donald Trump would struggle to unwind the $1.2tn (£950mn) of spending expected under the act. Last month, the White House said that, since it was passed three years ago, just under half ($568bn) of the total funding has been allocated to more than 66,000 projects.
Progress has been slow, though, and “other factors including the rise of inflation and baseline spending needs for projects increasing have reduced some of the overall strength” of the act, says Ronnie Grenier-Hemphill, vice-president in the industrials group at investment bank Houlihan Lokey.