The Denver Gazette

WHAT’S IN THE SENATE’S $1 TRILLION BIPARTISAN INFRASTRUCTURE BILL?

REUTERS

WASHINGTON • The U.S. Senate pushed ahead on Monday with a roughly $1 trillion bipartisan infrastructure bill to update America’s roads, bridges and broadband networks, clearing the way for a possible vote on the package later this week.

The legislation includes $550 billion in new spending, while the rest of the $1 trillion is comprised of previously approved funding.

Here are some of the details of the bipartisan bill:

Spending

• Highways: $343 billion

• Broadband infrastructure: $65 billion

• Water infrastructure, such as eliminating lead pipes: $55 billion

• Army Corps of Engineers for flood mitigation and water management: $17 billion

• Electric vehicle infrastructure, including chargers: $7.5 billion

• Low carbon and zero emission school buses and ferries: $7.5 billion

• Brownfields, Superfunds and recycling: $5.6 billion

• Ecosystem restoration: $2.6 billion

Financing

The plan has a number of proposals to finance the spending, including the following items and the revenue gains from each over the next decade, as estimated by Congress’ nonpartisan Joint Committee on Taxation.

• Reinstating Superfund fees: $14.5 billion

• Applying information reporting requirements to cryptocurrency: $28 billion

• Extending available interest rate smoothing options for pension funds: $2.9 billion

• Terminating coronavirus-related employee retention credits for employers: $8.2 billion

NATIONAL POLITICS

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2021-08-03T07:00:00.0000000Z

2021-08-03T07:00:00.0000000Z

https://daily.denvergazette.com/article/281724092596740

The Gazette, Colorado Springs