Infrastructure Deal
A bipartisan group of senators announced yesterday an agreement on the top-level details of a broad-ranging physical infrastructure package. Led by Sen. Rob Portman (R-OH) and White House officials, the legislation cleared a procedural vote last night by a 67-32 vote.
The deal would cost $974B over five years, about $579B of which would be new spending. Early reports suggest $312B of the new spending will fund transportation projects like roads and bridges ($110B), mass transit ($39B), electric vehicle infrastructure ($7.5B), and more. The other tranche of money would fund power grid upgrades ($73B), broadband internet infrastructure ($65B), and water infrastructure ($55B), among other items.
The package is separate from the Biden administration's $3.5T "human" infrastructure plan, a bill Democrats are expected to try to pass via a party-line budget reconciliation vote in the coming weeks.
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