Senate to pass bipartisan infrastructure bill

The Senate is expected to pass a $ 1,000 billion bipartisan infrastructure plan on Tuesday, a big step for Democrats as they try to push President Joe Biden’s broad economic agenda through Congress.

The legislation, which includes $ 550 billion in new funding for transportation, broadband and utilities, is expected to pass with Democratic and Republican votes. After its passage, Senate Majority Leader Chuck Schumer, DN.Y., plans to turn to a budget resolution that would see Democrats approve what they see as a complementary 3.5 trillion spending plan. dollars without Republican votes.

“After all the long, hard negotiations, stops and starts, we are here and it’s a good thing, a very good thing for America,” Schumer said Monday night before the final vote.

The house is expected to vote on passing the bill around 11 a.m. ET.

House Speaker Nancy Pelosi, D-Calif., Stressed that she would not accept the infrastructure bill or the Democrats’ separate proposal to extend the social safety net until the Senate adopts them both. The House does not return from its current vacation until September 20.

Passage of the bill will close months-long work for the White House and both parties in Congress to forge a plan to refresh roads, railways, public transportation, water systems. , American electricity and broadband networks. For years, Congress failed to agree on a comprehensive infrastructure plan, which supporters of both parties say will boost the economy and create jobs.

“These are long-term expenses to repair, replace and build assets that will last for decades. In doing so, it improves people’s lives,” said Sen. Rob Portman, Republican of Ohio and top GOP negotiator on Monday. .

Pressure from Democrats to pass their economic program could collapse further. The infrastructure bill alone appears to have enough Democratic and Republican support to make it through the House.

But to convince both centrists wary of a $ 3.5 trillion bill and progressives who want more spending on child care, paid time off and climate policy, Pelosi said she would not pass one bill without the other. In order to endorse their plan through budget reconciliation without Republicans, Democrats cannot lose a single member of their 50-person Senate caucus, nor more than a handful of representatives.

The Senate will then vote on a budget resolution in the coming days to unblock the reconciliation process. Schumer said on Monday that the chamber would vote “immediately” on the continuation of the budget measure after completing the infrastructure bill.

He expects to launch a so-called vote-a-rama – where the Senate considers an indefinite number of amendments to the resolution – “shortly thereafter”. The chamber plans to start its own break once it passes the budget measure.

Centrists, including the senses. Joe Manchin, DW.V., and Kyrsten Sinema, D-Ariz., Have signaled they will vote for the budget resolution but try to reduce the proposal by $ 3.5 trillion. Republicans have started hammering Democrats for the proposed spending and the individual tax increases they hope to use to offset them.

Biden and the Democrats want a signing policy they can promote in the midterm campaign next year as they attempt to hold both houses of Congress. Their plan is to expand household tax credits and health care subsidies adopted during the coronavirus pandemic, lower the age of Medicare eligibility and expand benefits and use the credits. tax, rebates and polluter fees to encourage green energy adoption.

The bipartisan bill is the first step. It invests $ 110 billion in roads, bridges and other major projects, $ 66 billion in passenger and freight rail transport, $ 65 billion in broadband, $ 55 billion in radio systems. water supply and $ 39 billion in public transportation, among other expenses.

The Biden administration has been pushing for its swift passage.

“My department is ready as this bill becomes law to begin deploying these resources and distributing them to communities,” Transportation Secretary Pete Buttigieg told CNBC’s “The News With Shepard Smith” on Monday.

Funding for the bill will come from reallocated coronavirus relief money, unused federal UI assistance, and spectrum auctions, among other sources. Republicans resisted Biden’s proposal to raise the corporate tax rate to offset costs.

While senators said the bill would be paid, the non-partisan Congressional Budget Office estimated Thursday that this would increase budget deficits by $ 256 billion over a decade. The report did not include the potential increase in revenues from economic growth.

This story is developing. Please check for updates.

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