Highlights of the Infrastructure Investment and Jobs Act
The Infrastructure Investment and Jobs Act provides $1.2 trillion over five years from FY 2022 through FY 2026. The IIJA is essentially two different omnibus bills packaged into one: roughly $650 million of the IIJA includes the reauthorization of the federal surface transportation program and the remining nearly $550 million funds general infrastructure investments that focus on roads and bridges, transit, water, energy, climate resiliency and adaptation, and broadband.
Allocation Estimates for Minnesota
According to Federal Funds Information for States, or FFIS, allocation estimates for Minnesota total $7.4 billion, as of their most recent update on April 19, 2022. Most of this funding, roughly $6.1 billion, must be matched by nonfederal resources. Governor Walz and Lt. Governor Flanagan are committed to securing these critical matching funds in the upcoming FY 2024-25 biennial budget.