US president Joe Biden reached a deal with a group of moderate senators to boost infrastructure spending in the country with increased investment in roads, bridges and waterways, DTN reported on 24 June.
While Biden had originally proposed a US$2.2tn infrastructure plan over eight years – the American Jobs Plan – the agreed plan listed about US$973bn in spending over five years, increased to US$1.2tn in total infrastructure spending over eight years. In total, about US$579bn would be considered new spending for infrastructure, according to the report.
The bipartisan infrastructure compromise was made between Biden and 10 senators – five Democrats and five Republicans, DTN said.
“We have a deal, and I think it's really important. We've all agreed that none of us got what we wanted. I clearly didn't get all I want. They gave more than I think they were inclined to give in the first place. But this reminds me of the days when we used to get an awful lot done up in the United States Congress. We actually worked to get bipartisan deals and bipartisan deals mean to compromise,” Biden said.
A range of transportation projects would benefit from US$312bn in new spending, including US$109bn for roads, bridges and major projects, US$66bn for both passenger and freight rail projects, US25bn for airports and US$49bn for public transport, DTN wrote.
The framework had also set aside US$16bn for Inland waterways, which are used extensively for agriculture exports, including soyabeans. The funding would also cover port upgrades and other projects, according to the report.
Beyond differences among the two parties on spending, final details of the package had not confirmed how it would be paid for, DTN said.
The Guardian newspaper also wrote that the deal still faced major challenges, and its passage now rested on a delicate two-track negotiation between the House and Senate to move both it, and a separate spending bill, which Democrats planned to force through despite Republican opposition.