One of the biggest sticking points of Joe Biden’s presidency has been the infrastructure bill that has taken on the name of “Build Back Better.” The Biden Administration devoted a lot of time and energy to passing it this past November. The bill calls for a $1 trillion dollar budget to repair and create all sorts of infrastructure for transportation such as electric charging stations, railroads, bridges, and much more. The bill has been quite controversial with people on both sides of the political spectrum praising it and ragging on it heavily. One thing is for certain, this infrastructure bill will affect the trucking industry. Our semi-truck tire repair Flint Michigan mechanics break it down below.
How Will The Infrastructure Bill Affect The Trucking Industry
The largest portion of the $1 trillion dollar budget will be dedicated to roads and bridges. The Biden Administration details how $110 billion dollars will go towards around 20,000 miles worth of highways and roads. The infrastructure in the United States has been on a rapid decline over many decades with the public sector failing to complete the job time after time. If the infrastructure bill does get carried out, it can help a struggling truck industry.
New roads and bridges will help fleet managers lower their costs. New roads and bridges will be kind and safe for large vehicles to travel on. It is estimated that billions of productivity hours are lost every year in the trucking industry due to traffic congestion and other operating problems. Better roads, highways, and bridges will help to ease that number downward if carried out properly.
From a shipping perspective, a huge call for construction means that a lot of materials will be transported around the country. In some type of way, the trucking industry indirectly helps fuel these construction sites by delivering materials all around the country. Hopefully, these materials will be lucrative contracts for fleet managers to facilitate.
The biggest concern by politicians and leaders was the infrastructure bill’s effect on inflation. Currently, the inflation rate is going sky high under the Biden Administration which has record-low approval ratings for a presidential cabinet. It is hard to trace if the bipartisan infrastructure bill is having an effect on the inflation rate in the country. Democrats argue that the infrastructure bill will increase productivity and force labor growth which will prevent the bill from affecting inflation rates. Republicans state that the bill is too excessive and that it will be more of a problem than a solution. One thing is for certain. The current inflation rate is skyrocketing which puts major stress on the trucking industry in the wake of labor shortage and unhealthy wages.
If you have any questions about how the infrastructure bill affects your fleet management practices, reach out to TT Mobile Repair at 810-875-1535!
