/PRNewswire/ Solar power developer Silicon "Ranch" Corporation ("SRC") and its contractor Infrastructure and Energy Alternatives, Inc. ("IEA") got slammed.
President Joe Biden recently announced a $2.3 trillion U.S. infrastructure spending proposal, the American Jobs Plan, that promises billions of dollars in construction contracts to companies across the country who are trying to determine what a post-COVID-19 economy will look like.
The plan calls for $621 billion for transportation infrastructure and $689 billion for buildings and utilities.
The Biden administration has also submitted a $1.52 trillion 2022 discretionary spending proposal to Congress, in advance of a full budget request, that includes:
$3.6 billion for water infrastructure improvements.
$6.8 billion for the U.S. Army Corp of Engineers civil works program.
$2 billion for federal building construction projects.
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