Senators Reach Agreement on $1.2 Trillion “Infrastructure” Bill

A bipartisan group of senators said they have reached an agreement with the White House. The roughly $1.2 trillion infrastructure plan which is spanned out over eight years. With $973 billion in the first five years and only $579 billion in new spending for roads and bridges, the rest being redirected as congress sees fit.

Biden announced the deal alongside senators on the White House driveway. “I clearly didn’t get all I wanted. They gave more than I think maybe they were inclined to give in the first place.”

Some of the compromises that were made were settling at the current numbers:
$109 billion for roads and bridges, $66 billion for passenger and freight rail, $65 billion for broadband internet, $55 billion for water infrastructure, $49 billion for public transport, $47 billion for infrastructure resilience, $25 billion for airports, $7.5 billion for electric buses and $7.5 billion for electric vehicle charging stations.

They also cute $400 billion that Biden wanted for Obamacare and healthcare

The agreement was ferreted out behind closed doors in the U.S. Capitol with top White House aides in negotiations that lasted into Wednesday evening. Some details still need to be worked out, but indications from both senators and the White House are that an agreement has been made.
Sen. Mitt Romney (R-Utah) said, “We’ve agreed on a framework and we’re headed to the White House tomorrow.”
But later in remarks in the White House East Room, Biden said that he would not necessarily sign the bill unless Democrats passed tax hikes on the American people and social spending in a supplemental bill that he wants pushed through without Republican votes using budget reconciliation rules.

“If they don’t come, I’m not signing it. Real simple,” Biden said. Since republicans blocked some of his far-reaching plans to include in the bill tax hikes for individuals and businesses. While the “framework” of the deal has been worked out the sticking point has been how congress will pay for what would be the largest infrastructure bill by far. With Republicans pushing to use money not used in the Covid-19 relief effort that is available but hasn’t yet been allocated or designated. The Democrats would like to pay for it by raising the business tax, individual tax, and have floated other fees, including the possibility of raising the federal 18.4 cent per gallon gas tax by indexing it to inflation, which we have seen some of the largest inflation jumps since the 1970’s and thus raising gas prices higher.

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