US Grants $3bn For Clean Port Initiatives

TL/DR –

US President Joe Biden has announced a $3 billion investment into improving the country’s port infrastructure through his Inflation Reduction Act. $147 million of this funding has been awarded to the Maryland Port Administration for the Port of Baltimore. This comes in the wake of a three-day port strike on the U.S. East Coast and Gulf Coast that temporarily halted around half of the country’s ocean shipping.

Biden Invests $3 Billion in US Port Infrastructure

On Tuesday, U.S. President Joe Biden unveiled a $3 billion investment into national port infrastructure as part of his Inflation Reduction Act. This investment is earmarked to uplift the nation’s ports via funding for cleaner equipment and the creation of union jobs.

A significant portion of the investment, $147 million, is allocated to the Maryland Port Administration, owners of the Port of Baltimore, per the White House announcement.

This funding announcement follows the recent three-day port strike, which occurred on the U.S. East Coast and Gulf Coast. The work stoppage significantly affected ocean shipping, temporarily stalling nearly half of the country’s shipping operations.

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