US senators unveil US$1 trillion infrastructure bill: ‘this is big’
- Bill aims to pump historic levels of funding into fixing US infrastructure
- It is the cornerstone of President Joe Biden’s sweeping domestic agenda
US senators have finalised details of a sweeping US$1 trillion plan to invest in roads, bridges, ports, high-speed internet and other infrastructure, with some predicting the chamber would pass the bipartisan legislation this week.
Senators said the 2,702-page bill included US$550 billion in new spending over five years for items such as roads, rail, electric vehicle charging stations and replacing lead water pipes on top of US$450 billion in previously approved funds.
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“I believe we can quickly process relevant amendments and pass this bill in days,” Senate Majority Leader Chuck Schumer, a New York Democrat, said of the legislation after it was announced by a bipartisan group of senators.
“This is a really important bill because it takes our big, ageing and outdated infrastructure in this country and modernises it. That’s good for everybody,” said Senator Rob Portman, the lead Republican negotiator.
“This is big,” said Democratic Senator Joe Manchin of West Virginia “This will keep us going for five to 10 years and we can continue to build on it,” he said of the long-term economic benefits of infrastructure investments.
However, the bill also drew criticism from some Republicans, who believe it costs too much.
“I’ve got real concerns with this bill,” Republican Senator Mike Lee said in a floor speech. “All is not well with the way we spend money.”
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It was not yet clear whether senators outside the bipartisan group that negotiated the bill will offer amendments that could pass and possibly upset the delicate coalition that was cobbled together.
Democrats want to offset that social spending with tax hikes on corporations and wealthy Americans earning more than US$400,000 a year, measures opposed by Republicans, leaving the fate of both bills up in the air.
Individual senators’ review of the final text, including detailed provisions to pay for it, will determine whether a sizeable bipartisan majority in the closely divided Senate can hold up.
So far, senators have supported a shell version of the legislation in procedural votes, including a 66-28 margin on Friday that included 16 Republicans.
