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New Biden infrastructure law is done and dusted: Here's what it aims to do for you

President Biden's new infrastructure package doesn't directly put money in your pocket, but you may still benefit.

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The $1.2 trillion tied up in the new infrastructure law goes toward everything from charging stations to faster internet across the country.

Sarah Tew/CNET

After months, America's new $1.2 trillion infrastructure package is now officially law. President Joe Biden signed the bill Monday, giving the green light to funds for public projects that could touch every part of the country. While it won't authorize another round of stimulus checks or extend the monthly child tax credit payments (that extension could come in a different bill later this year -- see below for more details), -- the Infrastructure Investment and Jobs Act of 2021 does address everything from fixing rickety roads to bringing high-speed internet to areas that lack reliable broadband.

"America is moving again, and your life is going to change for the better," Biden during the bill signing. One thing to know right away, this law is completely different from the Build Back Better Act, which could include money for more child tax credit checks, housing, health care and child care credits -- what some call "human infrastructure." That bill is still in the works.

For now, here's what the new infrastructure law could mean for you (and how much money is earmarked for each project). Here's the latest on a possible EV tax credit, the latest on the COVID-19 vaccine mandates and the lifted travel restrictions to the US.

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Faster internet across America

A big focus on the infrastructure law -- and a good part of the funding -- will go to extending high-speed internet into rural areas and helping low-income families pay their monthly broadband bill.

The budget: $65 billion 

What the money is for: Along with building high-speed internet in areas that lack reliable access, the law would require providers to offer an affordable plan for low-income families. The law will set aside $14 billion to help low-income families pay for the cost of an internet connection, extending emergency broadband subsidies the government put in place during the pandemic.

New and repaired roads, highways and bridges

The single biggest spending item in the law is earmarked for the nation's roads and bridges.

The budget: $110 billion 

What the money is for: According to the White House, 173,000 miles of the country's highways and major roads as well as 45,000 bridges are in poor condition. The law will set aside almost $40 billion just for bridge repair and replacement.

Electric vehicle investment, including a national network of charging stations

The law will invest in electric vehicles, including buses and a chain of EV chargers along the nation's highways. (As part of the push for electric vehicles, Congress this year intends to offer EV tax credits.)

The budget: $15 billion 

What the money is for: $7.5 billion will go to building out a national network of EV chargers along highways. Other money will go to EV buses -- including school buses -- and ferries.

ChargePoint EV charging station

The law will fund a network of charging stations across the country.

ChargePoint

Safer, more modern airports

The law sets aside money for airport maintenance and improvements.

The budget: $25 billion 

What the money is for: To repair and upgrade runways and gates and modernize terminals and air traffic control towers. 

Water safety

Another big-ticket item is money to pay for improvements to the nation's water system.

The budget: $55 billion 

What the money is for: Among the areas the law will address, it will fund lead pipe replacement across the country and build out water infrastructure in tribal and low-income communities.

Upgrade power grid

The White House said power outages cost the US economy up to $70 billion annually.

The budget: $73 billion 

What the money is for: Updating the nation's power grid by replacing older power lines and cables and investing in clean-energy research.

Expand public transit

The White House said 24,000 buses, 5,000 rail cars and 200 transit stations are in need of repair. 

The budget: $39 billion 

What the money is for: Improvements to the country's transit system, including bus and subway car repairs. The law would also fund transit system improvements and extend transit to more riders.

For more, here's what we know about where the Biden administration stands on net neutrality, which parts of the country are lagging behind in high-speed access and more on how the new law will address the digital divide.