On November 15, 2021, President Biden signed into law the Infrastructure Investment and Jobs Act, H.R. 3684. This act includes $550 billion in new spending over five years for various projects such as roads and bridges, rail, public transit, ports and waterways, airports, and broadband—a multi-year authorization and commitment likely to provide significant incentives for the private sector to invest in infrastructure.

This Legal Update summarizes key provisions in the act that intend to encourage public-private partnerships and private sector investment in infrastructure; the act’s initiatives related to electric vehicles and carbon capture, which also are likely to interest private investors; and additional infrastructure spending that Congress is considering under the Build Back Better Act, H.R. 5376.