The ambitious infrastructure deal proposed by President Joe Biden administration has been in the negotiating table from weeks on end. However, on Thursday, President Joseph Biden stepped out on the driveway of the White House and announced, “We have a deal.” He was surrounded by a group of senators from the Democratic and Republican Parties.
Biden was surrounded by 10 senators. He said that they had “a deal “ on an infrastructure package. He also said that they made serious compromises on both ends. He said that he clearly didn’t get all that he wanted, and he thought that they gave more than they were inclined to give in the first place. He also said that the deal reminded him of the days when they “used to get an awful lot done in Congress.”
The White House said that $1.2 trillion would be spent on infrastructure over a period of eight years, as per the deal. They would spend $973 billion to build and improve infrastructure in the next five years.
The payment proposal for the bill would be funded by reducing the Internal Revenue Service Tax Gap. This means that the tax men would go after the tax cheats and get them to pay their taxes. Unemployment insurance relief funds and unused funds from the 2020 relief legislation would also be repurposed and used to finance the infrastructure proposal.
The bipartisan group of senators who worked hard to put through an acceptable deal are
- Krysten Sinema — Lead Democrat
- Rob Portman — Lead Republican
- Susan Collins — Republican
- Bill Cassidy — Republican
- Mitt Romney — Republican
- Lisa Murkowski — Republican
- Joe Manchin — Democrat
- Jeanne Shaheen — Democrat
- Mark Warner — Democrat
- Jon Tester — Democrat
Although President Biden’s original ‘American Jobs Plan’ came with a $2 trillion figure, it was a long shot, and the administration was looking for a bipartisan proposal which has finally been hammered out. The president will address details of the proposed infrastructure plan from the East Room of the White House later today.