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