Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

'Finally, infrastructure week!' Biden says, cheering $1 trillion bill

Published 11/06/2021, 10:20 AM
Updated 11/06/2021, 01:40 PM
© Reuters. U.S. President Joe Biden delivers remarks after late-night passage of a $1 trillion infrastructure bill to repair the nation's airports, roads and bridges, next to U.S. Vice President Kamala Harris, at the White House in Washington, D.C., U.S. November 6,

© Reuters. U.S. President Joe Biden delivers remarks after late-night passage of a $1 trillion infrastructure bill to repair the nation's airports, roads and bridges, next to U.S. Vice President Kamala Harris, at the White House in Washington, D.C., U.S. November 6,

By Steve Holland and Heather Timmons

WASHINGTON (Reuters) -A giddy President Joe Biden on Saturday hailed congressional passage of a long-delayed $1 trillion infrastructure bill as a "once in a generation" investment and predicted a broader social safety net plan will be approved despite tense negotiations.

Biden and Vice President Kamala Harris appeared in the White House State Dining Room about 12 hours after moderate and progressive Democrats in the House of Representative overcame internal bickering and delivered the president his biggest legislative win thus far.

"Finally, infrastructure week," Biden said with a chuckle. "I'm so happy to say that - infrastructure week!"

The president's comment referred to a running joke in recent years after Biden's Republican predecessor Donald Trump declared https://www.reuters.com/article/us-usa-trump-russia-week/confluence-of-crises-crashes-trumps-infrastructure-week-idUSKCN1G02M6 "Infrastructure week" in 2018 but was unable to pass a bill after multiple tries during his presidency.

The bipartisan bill's passage gives Biden a jolt of good news https://www.reuters.com/world/us/with-infrastructure-vote-congress-gives-biden-long-needed-jolt-good-news-2021-11-06 after sobering election losses for his Democratic party this week and a drop in his approval ratings. Referring to the losses, Biden said they showed American people "want us to deliver."

"I think the one message that came across was - 'get something done. It's time to get something done - stop talking,'" said Biden.

The United Steelworkers union welcomed the bill's passage.

"The House has passed the #InfrastructureBill, which would provide roughly $1 trillion for upgrading the nation’s critical infrastructure. This is a big freakin' deal for us because Steelworkers supply America in so many ways!" the union tweeted.

The bill had been caught up for months in bitter fighting between Democrats and the impasse had raised questions about Biden's effectiveness.

With Biden making multiple phone calls to lawmakers urging a compromise, an agreement was worked out late on Friday for the House to vote by Nov. 15 on Biden's proposed $1.75 trillion Build Back Better social safety net plan.

This allowed lawmakers to go forward on the infrastructure bill and it passed with backing from 215 Democrats, and in a move that annoyed the conservative right, 13 Republicans helped provide the margin of victory. A half dozen progressive Democrats voted no.

Biden said that in his last-gasp negotiations with Democrats to try to get the bill passed, he urged them, "Let's be reasonable."

"Last night we proved we can, on one big item, we delivered," he said of the bill, which includes https://www.reuters.com/world/us/roads-bridges-airports-details-bidens-1-trillion-infrastructure-bill-2021-11-05 tens of billions in investments in road, rail, public transport and broadband.

Biden was in an upbeat mood in taking questions from reporters, at one point playfully putting his hands over his eyes to pick out a journalist to call on.

He said he will sign the bipartisan bill "soon" in a formal signing ceremony that highlights all the people who worked on it, Democrats and Republicans alike.

He plans to visit some ports next week to promote the bill and Americans should see the impacts in coming months, he said, offering Democrats something to campaign on as they try to head off losses in next year's congressional elections.

© Reuters. U.S. President Joe Biden delivers remarks after late-night passage of a $1 trillion infrastructure bill to repair the nation's airports, roads and bridges, next to U.S. Vice President Kamala Harris, at the White House in Washington, D.C., U.S. November 6, 2021.  REUTERS/Jonathan Ernst

The infrastructure bill will create "blue collar" jobs modernizing roads and bridges, and transform the transportation system, Biden said. The "vast majority" of the jobs created will not require a college degree, he said.

Americans "will see the effects of this bill probably starting within the next two to three months," he said.

Latest comments

Socialist revolution, American way. ... same results - Soviet Union socialism doesn't teach anyone.
Green on monday
Here's something shocking you may not know both Republicans and Democrats are owned by the same people all this nonsense is used to confuse and divide lol
Spot on!
open up oil pipelines, and all forms of US production. We don't want high prices for mere oil over an agenda.
Republicans who voted... good luck with re-election. lol
I would have said the same for the ones that voted for the corporate tax cuts but alas they were re-elected
makes no sense
more liquidity, more bullrun, bigger bubble
more liquidity, more bullrun, bigger bubble
Good thing CAMEL has a mask on.  So effective. (/sarc /sarc /sarc)
Whats up with the comments in here they are acting like the world is ending because we are going to fix roads
More Ons with agendas
fix labor shortages and stop creating too much debt compared to output gap
Oof! We are a truck heading down a foggy road whilst going 55mph and we can only see 5ft in front of us… Its not just a single deer on the road ahead…
full on dictator- run up debt- create economic crisis- people riot- government prints more- more debt and inflation- 40 years later unless states leave union
Democrats strive to make the rich richer and the poor poorer… Inflation is a tax on all americans that impacts the low wage earners the worst… Inflation is almost at all time highs… food prices almost at all time highs… fanning inflation increases the wealth gap as wages are not rising faster than inflation…
You say that as if Republican monetary policies hadn't run up inflation and deficits before Biden was elected.
Republicans don't create inflation but good try- if you can list policies and steps to how it created inflation and deficit lets hear it
Most recently the Tax Cut and Jobs Act in 2017 added two to three trillion to the deficit without a meaningful different in job growth which was already occurring and projected to occur before 2017.
The boomers continue to spend the money for the future generations so they will never live through a reccession… they will retire rich and crash the economy as they leave… when will millenials begin to realize this…
Funny how quick they pushed this threw after the left lost Virginia.
the USD has lost 98% of its value since 1971... with the first stimulus Bill signed by Trump we printed more money in 2 months then we have since the signing of the Constitution
say it louder for the dummies In the back
are you saying stimulus wasn't needed? stimulus would've been "printed" no matter who was president at the time
I'm old enough to remember when Reuters pretended to host honest journalism. No such pretense anymore.
They still claim to be but its claims are equivalent to the flat earthers
Because you watch CNN you believe the propaganda
i dont watch cnn lmfao, but dollars fo doughnuts you watch fox and other equivalent or worse without even seeing the irony :)
1.5 mil jobs ‘save or create’ at most. Obama American Recovery(ie Obama Shovel Ready) cost 831billions and ‘save or create’ only 1.1mil jobs. This infrastructure is a copy of Obama. Generation my rear.
The Depression was once in a generation also.
Yea once in a generation because it will take that long to take effect and pay for it.
Millions?
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.