Pete Buttigieg, the U.S. Secretary of Transportation, was recently featured on The Late Late Show with James Corden after visiting the Los Angeles Port. He shared his views on the latest Inflation Reduction Act (IRA) and the Infrastructure Bill and gave certain examples of how these laws benefit the American people.
According to Buttigieg, the biggest benefits of the IRA are that it will make certain things like healthcare, and electric vehicles (EV) more affordable. Moreover, it will lead to cleaner air, thereby helping the U.S. to fight climate change.
He said the exciting thing about the infrastructure bill is that it lets the government improve infrastructure in every part of the country. Citing the example of the LA port, he said that there is a place where the railroad is in a loop from where trucks must cross through one narrow spot to get to where some of the containers are stationed.
Through the bill, $20 million is being funded to build a bridge over the railroad, which will save 2500 truck hours per day of waiting. This translates to transportation being quicker, more efficient, and less expensive, as well as strengthening the supply chain.
When asked about the timeline of when these changes and improvements will come into fruition, Buttigieg said, “some of them will are gonna take a long time like building a new airport terminal or placing a big bridge.” On the other hand, smaller projects like street improvements, introducing bike lanes, etc., will materialize more quickly.
Undoubtedly, both the IRA and the Infrastructure Bill are set to change the course of America’s future. The direct beneficiaries of these laws are the infrastructure sector, including basic materials, construction equipment, transportation, etc., as well as the electric vehicle manufacturing sector and the healthcare sector.
