U.S. Department of Transportation (DOT) Secretary Pete Buttigieg recently announced a new round of grants going to 41 ports across the United States from President Biden’s infrastructure package. The Bipartisan Infrastructure Law includes nearly $17 billion for port infrastructure. The Biden administration is investing more than $653 million to fund port projects with the goal of improving U.S. supply chain reliability.
The funding, which is administered through the DOT’s Maritime Administration, includes nearly $53 million to the Port of Long Beach for improvements to enhance cargo movements to and from the port and increase safety at railroad crossings near the port. It also gives more than $43 million to the Cold Bay, Alaska, port for a new dock designed to accommodate commercial use and provides more than $54 million to the Port of Tacoma in Washington to install new cargo racks and power supplies.
Administration officials say there has been a more than 90% decrease in the number of container ships waiting at U.S. ports since when President Biden initially took office, which was amid the supply chain issues during the COVID-19 pandemic. Officials also noted that global container shipping costs are down by more than 80 percent from their peak in 2021.