The Senate voted 69-30on Tuesday to pass the $1.2 trillion bipartisan infrastructure package, handing a major victory to President Biden and a group of senators that spent months negotiating on the agreement.
Why it matters: The monster bill would deliver hundreds of billions of dollars for roads, bridges, waterways and other "hard infrastructure" items. It is widely seen as a victory for both parties and the reputation of the Senate, especially given the current level of polarization in Congress.
- Despite the bill's success in the Senate, it faces an uphill battle in the House, where members were largely left out of the negotiating process.
- But the large margin of votes for the bill could make it harder for House progressives to dismiss outright.
Details: The bill will cost $1.2 trillion over eight years, and offers more than $550 billion in new spending, including ...
- $110 billion in new funds for roads, bridges, and major projects. $40 billion is new funding for bridge repair, replacement, and rehabilitation and $17.5 billion is for major projects.
- $73 billion for the country's electric grid and power structures.
- $66 billion for rail services.
- $65 billion for broadband.
- $55 billion for water infrastructure.
- $21 billion in environmental remediation.
- $47 billion for flooding and coastal resiliency.
- $39 billion to modernize transit. This is the largest federal investment in public transit in history, according to the White House.
- $25 billion for airports.
- $17 billion in port infrastructure.
- $11 billion in transportation safety programs.
- $7.5 billion for electric vehicles and EV charging; $2.5 billion in zero-emission buses, $2.5 billion in low-emission buses, and $2.5 billion for ferries.
- The bill will include language regarding enforcement of unemployment insurance fraud.
- The measure will add $256 billion in projected deficits over eight years, according to the Congressional Budget Office.
What's next: The Senate will now immediately move to consider Democrats' $3.5 trillion budget resolution, which contains many of the remaining social-spending and climate priorities in Biden's agenda.
- The process will face its own series of amendments and procedural hurdles, but it is expected to pass as early as the end of this week.
- Then comes the hard part. Once the budget resolution passes, Senate Democrats will have to begin negotiating sections of the reconciliation bill in earnest — without losing a single Democratic vote.
- This will begin during August recess and continue through the fall.