The Town Crier - Legislative Backgrounder

Legislative text for the Infrastructure Investment and Jobs Act was released on Sunday night. As the League reported last week, the 5-year, $1 trillion bipartisan infrastructure framework includes $550 billion in new federal infrastructure spending.

The Senate announced they have reached an agreement on a 5-year, $1 trillion traditional infrastructure package. The act, titled the Infrastructure Investment and Jobs Act includes funding for roads, rails, bridges, ports, broadband, clean water, clean energy, cyber security, and electric vehicle infrastructure. It is expected that 2 million jobs will be created per year with passage of this legislation.

Recently, both the U.S. Treasury and the New Jersey Office of the State Comptroller (OSC) provided American Rescue Fund Coronavirus State and Local Relief Funds compliance resources for municipal governments, including webinars, best practices, and checklists. Below is a summary of the guidance provided. We suggest you review this information with your chief financial officer and administrator.