US Senator Reveals $ 1 Trillion Infrastructure Plan - Kakiforex.com - Financial Market Media No. 1 in the World US Senator Reveals $ 1 Trillion Infrastructure Plan US Senator Reveals $ 1 Trillion Infrastructure Plan
InstaForex

August 2, 2021

US Senator Reveals $ 1 Trillion Infrastructure Plan

 After being delayed for weeks, U.S. senators finally finalized the text of a $ 1 trillion bipartisan infrastructure bill, on which it will further be introduced to the Senate level for a vote.


The text for the Bipartisan Infrastructure Investment and Employment Act was announced by Senate Majority Leader Chuck Schumer on Sunday.


The 2,702-page bill covers new spending worth $ 550 billion over five years for infrastructure such as roads, trains, electric vehicle charging stations and replacing lead water pipes on top of $ 450 billion of previously approved funds.



After announcing that the text of the bipartisan infrastructure bill had been completed, Schumer praised the group's efforts, saying that "today it is not easy to make a major bill in the Senate, especially from bipartisans."


Senators predict that the bill will be passed as soon as the end of this week, before being taken to the House of Representatives stage, where it is still uncertain whether it will be passed.


This is because there are some Democrats who consider the value of the package too small and expect the initial $ 3.5 trillion package introduced by President Joe Biden recently to be approved.


The package also includes social spending, which will be borne by tax increases on companies and high -income Americans. These measures have met with opposition from Republicans and led to the emergence of bipartisan bills.