WASHINGTON, DC – It appears the Senate and the White House have an agreement, which is more of an agreement than they had in the past, to fund an infrastructure bill.
News reports suggest that the Republican delegation finally signed off on the latest proposal after getting assurances from President Biden and Senate Democrats that the plan can be paid for by reinvesting unspent coronavirus relief funds, and assessing “targeted corporate user fees” along with taxation of cryptocurrencies (like bitcoin) and through additional economic growth expected to be generated by the infrastructure improvements.
Currently sitting at $550 billion, the largest portion will fund roads, bridges, and major transportation projects (20 percent) while about an eighth of that will cover electrical utility upgrades. Improving rail – both freight and passenger – will chew up approximately $66 billion, broadband for every American hit $65 billion, public transit claims $39 billion and airports will get $25 billion.
Other significant investments agreed to by both sides include ports, electrical vehicle infrastructure, clean drinking water, and environmental remediation.
(SOURCE: All Ag News)