Although its passage alone was a milestone, some of the most important decisions regarding the Bipartisan Infrastructure Law are still to come. Given the amount of discretionary spending in the legislation, agencies now have a monumental task in developing procedures to advertise funding opportunities, collect and review applications, and make the best possible allocation decisions.
And time is of the essence. Once federal procedures are written and processes are in place, they tend to change only incrementally. While the costs of the BIL are for the most part set, the benefits will be determined by federal agencies in the coming years. For all of these reasons, now is an excellent time for the industry and state/local public sponsors to provide agencies with input on how best to implement the BIL’s many discretionary programs.