On November 19th, President Biden’s $1 trillion Infrastructure Law (Infrastructure Investment and Jobs Act) was passed by the House after months of delays and will now be sent to the Senate to approve. The White House is projecting that this bill will create 2 million jobs over the coming decade. However, many are worried about where the funding will come from.
This bill will deliver $550 billion of new federal investments in American infrastructure over five years, which will touch everything from bridges and roads to the nation’s broadband, water, and energy systems. Also included in this bill are expanded child-care, paid leave, expanded healthcare coverage, an extension on child tax credit payments, green energy investments and tax credits, universal pre-K, affordable housing, and various other programs.
One upside for some is that this could create many jobs in construction, transportation, and energy. The New York Times goes on to describe that if there isn’t enough labor to keep up with the demand, then Biden’s plans could be set back. In an already-tight labor market, employers can expect even more hiring hurdles, should the bill be approved.
Employers in the construction, transportation, and energy industries should be proactive in recruiting talent and growing their workforce. GMS can help by creating a hiring plan for your company, streamlining your onboarding process, and ensuring a seamless payroll. Contact us today.