After anxiously watching long days and nights of tough negotiations, engineering and construction groups are hailing the enactment of a legislative package that averts a U.S. default on its financial obligations, sets caps on federal spending for the next two years and puts in place provisions aimed at speeding the federal review process for infrastructure projects.
Without ceremony, President Joe Biden signed the Fiscal Responsibility Act on June 3, just two days before the projected default deadline. The measure won final congressional approval late on June 1 with Senate passage on a bipartisan 63-36 vote.