For the past few weeks lawmakers have been negotiating the details of the Bipartisan Infrastructure Framework. Now Congress has 63 days to take action before the Fixing America’s Surface Transportation (FAST) Act expires.
Late Wednesday night the Senate voted 67-32 to proceed with the consideration of the Bipartisan Infrastructure Framework. While legislative text has not been finalized, President Biden released a fact sheet outlining the major components of the bill. Below are some highlights.
|Roads, Bridges, and Major Projects||$110 billion|
|Public Transit||$39 billion|
|Passenger and Freight Rail||$66 billion|
|EV Infrastructure||$7.5 billion|
|Electric Buses and Ferries||$7.5 billion|
|Program to Reconnect Communities Divided by Transportation Infrastructure||$1 billion|
|Resilience and Western Water Infrastructure||$50 billion|
|Clean Drinking Water Infrastructure||$55 billion|
|High-Speed Internet||$65 billion|
|Environmental Remediation||$21 billion|
|Power Infrastructure||$73 billion|
Lawmakers are proposing this deal be paid for by a “a combination of redirecting unspent emergency relief funds, targeted corporate user fees, strengthening tax enforcement when it comes to crypto currencies, and other bipartisan measures, in addition to the revenue generated from higher economic growth as a result of the investments.”
Once the Bipartisan Infrastructure Framework is fully drafted, it must pass in the Senate before being sent to the House for consideration. Infrastructure LA will continue to monitor the bill and keep you up to speed on the latest developments.