Actionable insights straight to your inbox


White House Says Bipartisan Infrastructure Deal Will Eliminate All Lead Pipes and Service Lines in US

Lead pipes and service lines continue to serve an estimated six to 10 million homes and 400,000 schools and child care facilities.

Image source: David Mark / Pixabay

The proposed bipartisan infrastructure agreement reached last week in Washington includes funding to remove and replace millions of lead pipes and service lines across the US.

According to the White House, $55 billion would go toward water infrastructure, which would encompass eliminating lead pipes and service lines that continue to serve an estimated six to 10 million homes and 400,000 schools and child care facilities. 

On Monday, White House press secretary Jen Psaki said, “It will put Americans to work replacing 100% of our nation’s lead water pipes so that every single American child at home or in school can turn on the faucet and drink clean water.” 

Federal regulations enacted in 1978 banned the use of lead in plumbing systems, but many pipes and service lines built before the rules went into effect have yet to be replaced, posing a health risk for contaminated water in millions of homes and schools.

Cities and states have spent years working to replace pipes and service lines, but efforts have lagged in many places mainly because of the cost, which ranges from $1,200 to $12,000 per home, according to The Associated Press.  

After weeks of negotiations, President Joe Biden and a group of senators from both parties reached an agreement on June 24 that focuses on investments in roads, railways, bridges and broadband internet. 

According to the White House, the package’s price tag comes in at $1.2 trillion over eight years, with more than $500 billion in new spending. 


Source: Equities News

Many people think of position size in terms of how many shares they own of a particular stock. But it’s much smarter to think of it in terms of what percentage of your total capital is in a particular stock.