In this report we take a deep dive to compare the impact of a new re-authorization bill and of a new Infra Plan for highway infrastructure investments (including yesterday’s deal reached between a bipartisan group at the Senate and President Biden). We also describe the struggle points among the proposals, the potential pathways for approval, timing and the implications for cement/aggregate volumes for Construction material companies including global cement players. We explore the implications of incremental federal funding to each State’s investment profile in highways and based on each company’s footprint in the US, we estimate who could benefit the most considering how relevant Federal funding is as % of total Capital Outlays for its key states and the propensity of these key States to spend more or less when they receive incremental funding from the Federal government. Based on our proprietary analysis, we calculated the potential effect on cement/aggregate companies operating in the US.