U.S. Senate Unveils $1 Trillion Bipartisan Infrastructure Bill

Submitted by News Desk on

On Sunday evening the US Senate unveiled a $1 trillion infrastructure spending package that is $2,700 pages and includes billions of dollars for roads bridges, passenger trains, and a slew of other items.  It also includes massive spending on works traditionally above what an individual state can afford by themselves.

The bill is supported by All 50 Democratic senators and 17 Republican senators, including Senate Republican minority leader Mitch McConnell of Kentucky.  Senate Democratic majority leader Chuck Schumer of New York said, "we haven't done a large, bipartisan bill of this nature in a long time," and added that a final vote could be held in a matter of days.

In the bill, a key legislative priority for the Biden administration, is $550 billion in new spending over 5 years; $110 billion for roads, freeways and bridges, $29 billion for public transit systems, $66 billion for passenger rail, $55 billion for water and waste water infrastructure plus billions more for upgrading the nation’s electrical grid, building a national electric vehicle charging network, and money for airports, seaports and expanding broadband internet to rural areas and low income residents.

To pay for the $1 trillion package, there will be $550 billion in new spending, roughly $200 billion in unused emergency covid relief will be reallocated and the remainder from enhanced IRS tax enforcement.  Deficit hawks in the U.S. House of Representatives have already showing their hesitation saying funding is shaking as laid out in the Senate bill.