Deal reached on a bipartisan infrastructure package
The President and Senate negotiators have announced they have reached a deal on an infrastructure package.
The bill is expected to be around $1.2 trillion, spent over 8 years. According to the White House, it includes $550 billion in new federal funds and is expected to create around 2 million jobs per year over the course of a decade.
The Bipartisan Infrastructure Deal will work to provide necessary improvements in roads and bridges, investment in passenger and freight rail, funding for electric vehicle (EV) infrastructure, investment in clean public transit, funding for improvement and repair of airports, ports, and waterways, weatherization for infrastructure, funding for clean drinking water, investment in broadband infrastructure, and funding for modernizing America’s electric grid.
The deal will be financed through a combination of unspent emergency relief funds, better enforcement of current tax laws, and economic growth from the deal, as well as "targeted corporate user fees." Of course, details are short in a bill that has yet to be written. The Senate will be writing the bill starting tonight according to news sources.
We will update with details after the bill is complete.
Read the official White House announcement HERE.