Senators announced the long-awaited text of a nearly $1 trillion bipartisan infrastructure package Sunday night over a month after President Biden and a bipartisan group of senators first announced such a deal.
The Infrastructure Investment and Jobs Act focuses on investments in roads, railways, bridges and broadband internet, but it does not include investments that Biden has referred to as "human infrastructure," including money allocated for child care and tax credits for families. Democrats are looking to address those priorities separately.
The package calls for $550 billion in new spending over five years.
Sen. Rob Portman, R-Ohio, said the final product, just over 2,700 pages long, will be "great for the American people."
Senate Majority Leader Chuck Schumer said the Senate will consider amendments this week and a final vote could be held "in a matter of days."
"It's been decades since Congress passed such a significant standalone investment," the New York Democrat said, "and I salute the hard work done that was here by everybody."
Here's a look at what's included in the agreement:
- Roads, bridges, major projects: $110 billion
- Passenger and freight rail: $66 billion
- Public transit: $39 billion
- Airports: $25 billion
- Port infrastructure: $17 billion
- Transportation safety programs: $11 billion
- Electric vehicles: $7.5 billion
- Zero and low-emission buses and ferries: $7.5 billion
- Reconnect communities: $1 billion
- Broadband: $65 billion
- Power infrastructure: $73 billion
- Clean drinking water: $55 billion
- Resilience and Western water storage: $50 billion
- Environmental remediation: $21 billion
How would they pay for it?
According to a recent fact sheet from the White House released a few days before the final legislation was unveiled, the package will be financed through a combination of funds, including repurposing unspent emergency relief funds from the COVID-19 pandemic and strengthening tax enforcement for cryptocurrencies.
Goals of the plan
Back in June, the White House shared a fact sheet with the aims of the package:
- Improve healthy, sustainable transportation options for millions of Americans by modernizing and expanding transit and rail networks across the country while reducing greenhouse gas emissions.
- Repair and rebuild roads and bridges with a focus on climate change mitigation, resilience, equity and safety for all users, including cyclists and pedestrians.
- Build a national network of electric vehicle chargers along highways and in rural and disadvantaged communities.
- Electrify thousands of school and transit buses across the country to reduce harmful emissions and drive domestic manufacturing of zero emission vehicles and components.
- Eliminate the nation's lead service lines and pipes, delivering clean drinking water to up to 10 million American families and more than 400,000 schools and child care facilities that currently don't have it, including in tribal nations and disadvantaged communities.
- Connect every American to reliable high-speed internet.
- Upgrade the power infrastructure, including by building thousands of miles of new, resilient transmission lines to facilitate the expansion of renewable energy, including through a new grid authority.
- Make the largest investment in addressing legacy pollution in American history.
- Prepare more infrastructure for impacts of climate change, cyberattacks and extreme weather events.