Department of Transportation Secretary Pete Buttigieg announced Wednesday nearly $450 million in available funding for ports targeted to address supply chain problems.
The grant funding will be awarded to applicants on a competitive basis and was made available through President Joe Biden’s Bipartisan Infrastructure Law intending to speed up the flow of goods and expand capacity at ports.
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“We’re proud to announce this funding to help ports improve their infrastructure — to get goods moving more efficiently and help keep costs under control for American families,” Buttigieg said in a release by the department.
The investment nearly doubles last year’s investments in the Port Infrastructure Development Program for states and port authorities.
White House Senior Adviser Mitch Landrieu said in a tweet that the investments would provide funding for ports to “make upgrades, from constructing new berths to restoring docks to extending rail lines.”
Today, President Biden & @USDOT announced $450 million of Bipartisan Infrastructure Law funding for ports across the country to make upgrades, from constructing new berths to restoring docks to extending rail lines. @POTUS is #BuildingABetterAmerica by modernizing our ports.
— Mitch Landrieu (@MitchLandrieu46) February 23, 2022
The department called on applicants to bring proposals forward that would “reduce emissions” and advance “environmental justice” while improving the supply chain.
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The funding is aiming to help address inflation, which has escalated in recent months, compounded by the COVID-19 pandemic.
Consumer prices rose 7.5% in the past 12 months ending in January, according to a report by the Bureau of Labor Statistics. The escalation is the fastest pace of inflation since 1982.
