Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

$1 trillion U.S. infrastructure bill inches ahead with Senate votes

EconomyAug 09, 2021 04:35AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
2/2 © Reuters. FILE PHOTO: Kids visiting from Houston, Texas run to the Capitol steps as Republican and Democratic leaders continue to work on an amendment to the bipartisan infrastructure bill at the U.S. Capitol in Washington, DC, U.S., August 7, 2021. REUTERS/Ken Ced 2/2

By Richard Cowan and Arshad Mohammed

WASHINGTON (Reuters) -The U.S. Senate on Sunday took two more steps toward passing a $1 trillion bipartisan infrastructure bill by blessing the details of the largest U.S. investment in roads and bridges in decades and by moving to limit debate on the overall measure.

In a 69-28 vote, 19 Republicans joined 48 Democrats and two independents to support the provisions of a compromise that was the result of painstaking negotiations by a group of Republicans and Democrats.

The Senate also voted 68-29 to limit debate on the overall bill, which could put it on track for a vote on passage sometime Monday or Tuesday, and, in turn, send it to the House of Representatives.

The legislation https://www.reuters.com/world/us/whats-us-senates-bipartisan-1-trillion-infrastructure-bill-2021-08-03 is a top priority for Democratic President Joe Biden. Its passage, which remains likely after a large Senate majority has repeatedly voted to advance it, would be a major victory for him and the bipartisan lawmakers who crafted it.

Both the Senate and House are narrowly controlled by the Democrats.

House Speaker Nancy Pelosi has said she would only bring the bill to a vote after the Senate passes a separate $3.5 trillion bill providing funding to fight climate change and address home healthcare, which Democrats aim to push through without Republican votes, using a maneuver called "reconciliation."

Sunday's votes were delayed until the evening by the opposition of a single senator, freshman Bill Hagerty, using parliamentary rules that require all 100 senators to consent to expedite the process.

Hagerty, former President Donald Trump's ambassador to Japan, objects to the legislation because of its projected increase to the federal budget deficit.

He announced his opposition last week after the nonpartisan Congressional Budget Office said the legislation would increase deficits by $256 billion over 10 years.

The CBO analysis https://www.reuters.com/article/biden-infrastructure-costs/factbox-cbo-estimate-leaves-u-s-budget-shortfall-for-infrastructure-bill-backers-idUSL1N2PC30J did not include $57 billion in revenue that Washington could collect over the long term from the economic growth benefits of infrastructure projects. It also did not count $53 billion in unused federal funds to be returned from states.

Despite the frustration of lawmakers from both parties at the bill's slow progress, Democrats believe the legislation will ultimately pass.

"At the end of the day, this legislation is too important not to pass. Too important. Failure, as they say, is not an option," Senator Tom Carper, Democratic floor manager for the bill, told reporters.

$1 trillion U.S. infrastructure bill inches ahead with Senate votes
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (15)
Eudon Hickey
Eudon Hickey Aug 09, 2021 6:37AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The crypto community needs to challenge banks/central banks, government’s and institutions for a public debate on crypto vs fiat. All these new ridiculous rules being forced on crypto and investors, are silly and counterproductive to innovation.
David David
David9 Aug 09, 2021 2:21AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
$1 trillion will actually not go very far. We can probably build a handful of bridges and roads. We would need to hire China to doing the building. China has built world class massive infrastructure all across China.
George Jetson
George Jetson Aug 09, 2021 2:21AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
china has built world class tofu construction. even the Shanghai tower is leaking.
Fred Diebold
Fred Diebold Aug 08, 2021 9:57PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
What a joke................9% perhaps has to do with any infrastructure.
Josh Davis
Josh Davis Aug 08, 2021 9:57PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Unfortunately youre correct
Eudon Hickey
Eudon Hickey Aug 08, 2021 9:57PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The rest all line the pockets of those who voted for the bill
William Smith
William Smith Aug 08, 2021 9:47PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Fire up those printing presses and pass out the monopoly money.
Peter Bozich
Peter Bozich Aug 08, 2021 9:31PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
With all this money printing and gold still below $2000, total illusion
Me comment
Me comment Aug 08, 2021 9:31PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Less money printing then under trump.
Kenneth Sippola
Kenneth Sippola Aug 08, 2021 9:31PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Au to the moon
Scot House
Scot House Aug 08, 2021 7:56PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Schumer has a punchable face
Kaveh Sun
Kaveh Sun Aug 08, 2021 3:11PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
2000 companies spent half a billion to lobby on the 3.5+ trillions infrastructure. They will all get a pcs of this.
Nick Leeds
Nick Leeds Aug 08, 2021 3:11PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
So what shouldn't they???? They will create millions of high paying jobs (that can't be done overseas)
Roger Miller
Roger Miller Aug 08, 2021 3:11PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Nick Leeds  Government can't "create" anything, they take and spend how they see fit instead of the market.  The money they take was already at work in the economy, and even when they print money they take value from the economy through inflation.
Jody Darden
Jody Darden Aug 08, 2021 3:11PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Nick Leeds  Lets fill the current jobs or else be forced to open borders to fill jobs. either way.. not going to need well
Robinson T Monet
Robinson T Monet Aug 08, 2021 2:54PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
good deal on
Robinson T Monet
Robinson T Monet Aug 08, 2021 2:53PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
dow not saying
IceIce Baby
IceIceBaby Aug 08, 2021 2:49PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
That freshman senator just want to seems busy I think.
king michael
king michael Aug 08, 2021 2:48PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
One more $trillion to go to the pocket of those having government connections and bankers to produce just a few millions worth of never finished rusty medals.
jason xx
jason xx Aug 08, 2021 1:42PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
What a shock it's some Trump crony showing "loyalty" to his master by preventing anything from being done.
Roger Miller
Roger Miller Aug 08, 2021 1:42PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Democrats, just like all socialists, always have excuses ready for their failures.
Steve Austin
Steve Austin Aug 08, 2021 1:42PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Mr. art of the deal couldn't get an infrastructure deal done in 4 years. Just add it to Trump's long list of failures: both chambers of congress, white house, health care plan, and covid to name a few.
Todd Gray
Todd Gray Aug 08, 2021 1:39PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Pelosi! the eternal blackmailer of the people. if she doesn't get everything she wants, it's no soup for anybody who needs it - until she gets what she wants. btw, this climate change they rant on about is a cyclical natural phenomenon and we're at the apex of the common northern hemisphere warming trend. in time, the northern glaciers will return, and perhaps descend into the USA, and put Manhattan 1 mile below ice,... like it was just a few thousand years ago. the narrative is ridiculous, and exploits people who don't understand earth's simple relationship with the sun.
Tushar Patel
Tushar Patel Aug 08, 2021 1:39PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Perfectly said as i believe but nobody agrees one thing is sure we cannot make or destroy nature its the reverse the nature can make or destroy us we the people are nothing in front of mother nature she is the most powerful and as i say nature always balances itself if it goes beyond some threshold limit, they say carbon footprint but i say my foot its nothing nature will wipe out everything that imbalances it beyond a limit no exceptions so this climate guys are either fools or making everybody a fool.
Eudon Hickey
Eudon Hickey Aug 08, 2021 1:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
In 2016 when trump mentioned the infrastructure plan, many said no, (no to the american people) including the 17Rino’s and the democrats. Now they are doing less for more money and the 17Rino’s and Democrats passed the bill. I guess politics are back to wheeling and dealing now. No more for the people
Nick Leeds
Nick Leeds Aug 08, 2021 1:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Yup just like the vaccines didn't see the light of day until after the election or was that just another coinkidinki as well
Simon Lyon
Simon Lyon Aug 08, 2021 1:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
was Trump's infrastructure plan similar to his healthcare plan that was supposed to be better and cheaper than Obamacare, but never materialized? talk is cheap
Jody Darden
Jody Darden Aug 08, 2021 1:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Nick Leeds  How man dem politicians said publicly they would never take any vaccine under trump? it is the same vaccine, those same ones who said the elections weren't secure in 2016/2018. Politics are hilarious
Matt Brackley
Matt Brackley Aug 08, 2021 11:56AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
total control...total...total
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email