$2.5 Billion Awarded to Inland Waterways Projects
For the U.S. inland waterways system, a historic $2.5 billion of 100% federal funding has been earmarked for construction and major rehabilitation inland waterways projects. H.R. 3684, the Infrastructure Investment and Job Act, passed the House by a vote of 228 to 206 this past Friday and is headed to the President to be signed into law.
“When $2.5 billion is coupled with annual appropriations over the next five years, two-thirds of the CIS (Capital Investment Strategy) portfolio could potentially be funded to completion,” said Waterways Council, Inc. (WCI). “This provides a once-in-a-generation opportunity to modernize the nation’s inland waterways transportation system to provide energy security, increase global competitiveness, and further improve our environmental footprint.”
WCI added that project-specific funding will be allocated in a detailed spending plan by the U.S. Army Corps of Engineers’ Chief of Engineers and must be submitted to the House and Senate not later than 60 days after enactment.
Starting not later than 120 days after enactment of the bill, the Chief of Engineers is required to provide a monthly report to the Committees on Appropriations of the House of Representatives and the Senate, detailing the allocation and obligation of funds and new construction projects selected to be initiated.
Additionally, the Corps’ Operations and Maintenance account for all business line items within its Civil Works mission will receive $4 billion in the infrastructure bill. Inland waterways projects and dredging are eligible to compete for funding to be allocated in a Corps spend plan.