$550 Billion US Infrastructure Bill Advanced by Senate
The Senate voted Wednesday to advance a bipartisan bill, which includes $550 billion in new federal funding for infrastructure. The bill will now enter a process of debates and amendments. The bill would inject funding into transportation, utilities and broadband spending. Senators voted to advance the package 67-32.
The $550 billion figure is far lower than the multi-trillion-dollar American Jobs Plan championed by President Joe Biden. Though the bill is cheaper, it still represents the largest federal investment in public transit ever, according to the White House.
Households in the U.S. continue to lose $3,300 a year due to aging infrastructure, and businesses know that solid infrastructure lays the foundation to be competitive in a global economy.
The US Infrastructure Bills Current Measures Include:
- $110 billion major infrastructure projects.
- $66 billion to modernize rail service in the Northeast corridor.
- $40 billion for bridge repair, replacement and rehabilitation.
- $25 billion for airport project needs
- $17 billion for port infrastructure projects.
- $11 billion for transportation safety.
- $1 billion on community reconnection, often among disproportionately Black neighborhoods divided by highways and other infrastructure.