Bipartisan Infrastructure Investment and Jobs Act Summary

1 Page 1 of 129 Bipartisan Infrastructure Investment and Jobs Act Summary A Road to Stronger Economic Growth Page 2 of 129 Topline Summary Historic Investment in our nation s core Infrastructure priorities including roads and bridges, rail, transit, ports, airports, the electric grid, water systems, and broadband. No tax hikes on everyday Americans. Includes Bipartisan Senate-passed Drinking Water and Wastewater Infrastructure Act, Bipartisan committee-passed Surface Transportation Reauthorization Act and Surface Transportation Investment Act, along with the Bipartisan committee-passed Energy Infrastructure Act. Improves permitting by including enhanced FAST-41 program, which has substantially reduced the permitting timeline for larger Infrastructure projects while maintaining environmental standards. Makes a down payment on the Infrastructure needed for a low-carbon economy and helps to reduce emissions and improve water and air quality.

2 Includes rural Infrastructure development and dedicated new funds for major projects. Long-term spending for capital assets that will improve economic efficiency, productivity, GDP and revenue, and will not increase inflation. New spending paid for according to Congressional Budget Office(CBO)/Joint Committee on Taxation scores, CBO estimates and Office of Management and Budget estimates. $550 Billion In New Spending Over 5 Years Roads, Bridges, & major projects: $110B - Includes the Surface Transportation Reauthorization Act and Surface Transportation Investment Act. Funds new, dedicated grant program to replace and repair bridges and increases funding for the major project competitive grant programs. At the same time, the package preserves the 90/10 split of federal highway aid to states. Passenger and Freight Rail: $66B - Provides funding for the Amtrak national Network for new service and dedicated funding to the Northeast Corridor, which has incurred a severe repair backlog after Hurricane Sandy.

3 Increases funding for freight rail and safety. Safety: $11B - Funds highway & pedestrian safety programs, as well as pipeline safety and repair. Public Transit: $ - Funds nation s transit system repair backlog, which DOT estimates is more than 24,000 buses, 5,000 rail cars, 200 stations, and thousands of miles of track, signals, and power systems. Expands transit systems, supports clean transit options, and increases accessibility for seniors and persons with disabilities. Broadband: $65B - Grants to states for broadband deployment, makes broadband access more affordable for low-income families, expands eligible private activity bond projects to include broadband Infrastructure , and supports middle-mile deployment efforts. Page 3 of 129 Ports and Waterways: $ - Funding for waterway and coastal Infrastructure , inland waterway improvements, port Infrastructure , and land ports of entry through the Army Corps of Engineers, Department of Transportation, Coast Guard, General Services Administration, and Department of Homeland Security.

4 Airports: $25B - Increases funds for Airport Improvement grant program for runways, gates, & taxiways as well as a new Airport Terminal Improvement program for terminals, concessions, and multimodal connections. Improves Air Traffic Control Infrastructure . Water Infrastructure : $55B - Includes $ billion for the Bipartisan Drinking Water and Wastewater Infrastructure Act of 2021. Provides a historic $15 billion for lead service line replacement and $10 billion to address Per- and Polyfluoroalkyl Substances (PFAS). Supports water Infrastructure in Tribal communities by providing $ billion ($ billion under Water Infrastructure and $ billion under Resiliency) for the Indian Health Service Sanitation Facilities Construction program, in addition to providing funding to complete all currently-authorized Indian Water Rights Settlements. Power and Grid: $65B - Includes the Bipartisan , ENR-passed Energy Infrastructure Act, which includes funds for grid reliability and resiliency and support for a Grid Deployment Authority; critical minerals and supply chains for clean energy technology; key technologies like carbon capture, hydrogen, direct air capture, and energy efficiency; and energy demonstration projects from the Bipartisan Energy Act of 2020.

5 Resiliency: $ - Funding for cybersecurity to address critical Infrastructure needs, waste management, flood and wildfire mitigation, drought, and coastal resiliency, ecosystem restoration, heat stress, and weatherization. Clean School Buses & Ferries: $ - Includes historic $5 billion for the replacement of existing school buses with zero emission and clean school buses, with a priority on low income, rural and Tribal schools. Provides $ billion for the replacement of existing ferries with low carbon ferries and to assist states with operational costs for essential rural ferries. These investments will drive demand for American-made batteries and vehicles, creating jobs and supporting domestic manufacturing, while also removing old, dirty diesel buses and ferries from some of our most vulnerable communities. Electric Vehicle Charging: $ Funds for alternative fuel corridors and to build out a national network of electric vehicle charging Infrastructure to facilitate long-distance travel and to provide convenient charging where people live, work, and shop.

6 The federal funding will have a particular focus on rural disadvantaged, and hard-to-reach communities. Reconnecting Communities: $1B Total of $1 billion between contract authority and new appropriations. Funds for projects that remove barriers to opportunity caused by legacy Infrastructure . The program will provide dedicated funding for planning, design, demolition, and reconstruction of street grids, parks, or other Infrastructure . Page 4 of 129 Addressing Legacy Pollution: $21B Funds to clean up brownfield and superfund sites, reclaim abandoned mine lands, and plug orphan oil and gas wells, improving public health and creating good-paying jobs. Western Water Infrastructure : $ Funds for Bureau of Reclamation western water Infrastructure , including for aging Infrastructure , water storage, water recycling and reuse, waterSMART, and drought contingency plans, among other things. Page 5 of 129 New Spending Pay-Fors Approximately $210 billion from repurposing of certain unused COVID relief dollars.

7 This includes rescission of funds from COVID relief bills (prior to the American Rescue Plan), and estimates of savings produced from reduced uptake and sunsetting of underutilized credits, such as the Employee Retention Tax Credit (ERTC) and savings from the Paid Leave credits. By Bipartisan agreement, the Provider Relief Fund is protected from rescissions. (Source: CBO score & CBO estimate) $51 billion from delaying the Medicare Part D rebate rule (Source: CBO score) $53 billion from savings produced by certain states returning unused enhanced federal UI supplement (Source: CBO estimate) $20 billion from sales of future spectrum auctions (Source: CBO score) and $67 billion from proceeds of the February 2021 c-band auction (Source: CBO estimate) $56 billion in economic growth resulting from a 33 percent return on Investment in these long-term Infrastructure projects (Source: CBO analysis) $28 billion from applying information reporting requirements to cryptocurrency (JCT score) $21 billion from extending fees on GSEs (Source: CBO Score) $ billion from reinstating certain Superfund fees (Source: JCT score) $ billion from the mandatory sequester (Source: CBO score) $6 billion from extending customs user fees (Source.)

8 CBO score) $6 billion in sales from the Strategic Petroleum Reserve (Source: CBO score) $3 billion in savings from reducing Medicare spending on discarded medications from large, single-use drug vials (Source: CBO Score) $ billion from extending available interest rate smoothing options for defined benefit pension plans (Source: CBO Score) Page 6 of 129 Survey Data: Americans Overwhelmingly Support Fixing Our Nation s Infrastructure The overwhelming majority of Americans about 8 in 10 favor plans to increase funding for roads, bridges and ports and for pipes that supply drinking water, according to a survey conducted by Associated Press-NORC Center for Public Affairs Research. (Poll conducted July 15-19, 2021) A CNBC poll conducted in late April indicated 87% of the public backs Bipartisan efforts to fix our roads and bridges. A CBS News/You Gov survey found that 87% of Americans support more federal spending on building and repairing roads and bridges.

9 59% of respondents in the same survey said they support the Bipartisan Infrastructure Agreement. (Poll conducted July 14-17, 2021) According to a Yahoo News YouGov poll, 6 in 10 Republican voters say they favor the new $ trillion Infrastructure package negotiated by a Bipartisan group of senators and endorsed by the Biden White House. (Poll conducted June 22-24, 2021) Page 7 of 129 Roads, Bridges & Major Projects Summary : The $110 billion in new spending in this section of the Bipartisan Infrastructure agreement addresses the aging Infrastructure needs of the nation s roads & bridges. This section also contains the authorizations as included in the Bipartisan EPW committee-passed Surface Transportation Reauthorization Act Increased Contract Authority $ Supplemental appropriations $ o Bridge grant programs $ This funding supports increased Investment in the EPW Bridge Investment Program a competitive grant program to assist the repair and replacement of deficient and outdated bridges and ease the national bridge repair backlog.

10 In addition to the competitive program, this funding also supports a bridge formula program to help support the $125 billion bridge repair backlog (as estimated by the American Society of Civil Engineers). o Rebuilding American Infrastructure with Sustainability and Equity (RAISE) grants $ This Investment will boost funding for the RAISE (formerly BUILD) grant program, which supports surface transportation projects of local and/or regional significance. o national Infrastructure Project Assistance grant program $5B This new program supports multi-modal, multi-jurisdictional projects of national or regional significance. o Infrastructure for Rebuilding America (INFRA) Grant Program $ This funding supports an increase over baseline funding to the INFRA grant program, which supports highway and rail projects of regional and national economic significance. o Appalachian Development Highway System formula program $ The Appalachian Development Highway System consists of a series of highway corridors connecting 13 Appalachian states, from New York to Alabama.