On Sunday, Senate Democrats and Republicans finalized a bipartisan proposal worth approximately one trillion dollars. The proposal was crafted by a bipartisan committee headed by Sens. Rob Portman, a Republican from Ohio, and Krysten Sinema a Democrat from Arizona. The White House supports this proposal. The Senate now has to pass this infrastructure proposal.
The long-awaited bill had gone through a lot of issues including the initial size of its package as well as the ways and means by which it would be financed. After weeks of negotiations, the committee has come up with a solution that should be acceptable to both the parties. The bill seeks to combine both parties’ views and will be financed by reallocation of previous coronavirus funds that have not be used as well as collecting unpaid taxes from crypto currency transactions.
The allocation of funds should be as follows:
- $66 billion will be set aside for a passenger railway system.
- $55 billion will be used to augment and implement drinking water schemes.
- $65 billion will be allocated to improve internet broadband access throughout the nation.
- $25 will be given to major airports to repair and restructure old facilities.
- $73 billion has been allocated to modernize the energy grid.
- $21 billion will be used to improve the American environment and combat pollution.
- $110 billion will be used to build or repair bridges and roads.
- $39 billion will be used to improve and expand public transit.
Although the proposal has been put forth as a bipartisan one, there are some GOP senators who are publicly criticizing the proposal in the media even before debates have begun on the floor of the Senate.
The infrastructure bill has to also be passed in the House, following which it should become law after the president’s signature on the bill.