The Biden Administration's "Inflation Reduction Act", a massive $739 billion spending bill some economists see as an "inflation increasing act", has $3 billion cued up to fund neighborhood access and equity grants. The money is aimed at building connections across highways and railroads, making them safter to cross.
The new grants are in addition to the $1 billion from the Reconnecting Communities Program, created in last year’s Infrastructure Investment and Jobs Act.
The Neighborhood Access and Equity grants can be used for various projects including converting a highway into a boulevard, add bike lanes, and build “green” stormwater infrastructure. Unlike IIJA money, the IRA funds cannot be used to build single-occupant car lanes.
In addition to the access grants, the IRA includes expansions of tax incentives for energy efficiency improvements to buildings.
The law also contains about $5 billion for various programs that support low-embodied carbon building materials.
