WASHINGTON, Aug. 10—Associated Builders and Contractors today released the following statement on the Infrastructure Investment and Jobs Act, which passed the U.S. Senate today by a vote of 69 to 30. The bill would provide $550 billion in new infrastructure investments.

“This infrastructure package contains the most significant investment in our nation’s infrastructure in a generation and could yield crucial wins for the American people and construction industry,” said Michael Bellaman, ABC president and CEO. “It is promising to see progress made toward modernizing our nation’s roads, bridges, water infrastructure, transit, railways, ports and other critical infrastructure This bipartisan accomplishment is something that has eluded Congress for decades and is proof of the possibilities when lawmakers choose compromise over conflict.

“Commonsense provisions in this bill will cut down on unnecessary delays in federal construction projects and help address the workforce shortage in the construction industry,” said Bellaman. “Importantly, the bill is paid for without raising job-killing taxes on our nation’s small construction businesses.”

“However, the bill’s expansion of prevailing wage and support for misleading ‘buy American’ and ‘local hire’ requirements could impact the ultimate success of the legislation,” said Bellaman. “President Biden and his administration must refrain from partisan favoritism in awarding contracts and commit to ensuring all of America’s construction industry can participate in the important work of modernizing the nation’s infrastructure.”