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U.S. Senate in rare Saturday session on $1 trln infrastructure bill

Published 07/31/2021, 06:11 AM
Updated 07/31/2021, 10:25 PM
© Reuters. FILE PHOTO: U.S. President Joe Biden delivers remarks on the economy from the White House in Washington, U.S. July 19, 2021. REUTERS/Jonathan Ernst/File Photo

By Susan Cornwell

WASHINGTON (Reuters) -The U.S. Senate in a rare Saturday session worked on a bill that would spend $1 trillion on roads, rail lines and other infrastructure, as lawmakers from both parties sought to advance President Joe Biden's top legislative priority.

The ambitious plan has the backing of Democrats and Republicans alike and has already cleared two hurdles by broad margins in the closely divided Senate.

But so far lawmakers have not seen the final text of the bill, which includes about $550 billion in new spending and was still being written on Saturday. Earlier votes were for a shell bill that will incorporate the actual legislation once it is complete.

U.S. Democratic Senate leader Chuck Schumer said on the Senate floor that the bipartisan group working on the legislation needed additional time.

"The staffs are still working and say they will have the final legislative text ready tomorrow," Schumer said on Saturday night.

"When the legislative text is ready, I will offer it as the substitute amendment and after that, we can begin voting on amendments," the top Senate Democrat said.

After passing the $1 trillion bill, Schumer aims to push forward on a sweeping $3.5 trillion package that focuses on climate change and home care for the elderly and children. That faces staunch Republican opposition and some dissent among moderate Democrats.

"The Senate is going to move forward on both tracks of infrastructure before the beginning of the August recess. The longer it takes to finish, the longer we'll be here. But we're going to get the job done," Schumer said earlier on Saturday.

The Senate voted 66-28 on Friday to take up the bill, with 16 Republicans joining all 48 Democrats and two independents in support.

The package would dramatically increase the nation's spending on roads, bridges, transit and airports. Supporters predicted it will ultimately pass the Senate and House of Representatives, eventually reaching Biden's desk for him to sign it into law.

It includes about $550 billion in new spending, on top of $450 billion that was previously approved. It also includes money for eliminating lead water pipes and building electric vehicle charging stations.

The bill does not include funding for most climate change and social initiatives that Democrats aim to pass in the separate $3.5 trillion measure without Republican support.

Democrats hold razor-thin margins in both the Senate and the House of Representatives, meaning the party must stick together to achieve its legislative goals.

© Reuters. Vehicles are parked outside the U.S. Capitol building the morning the Senate returned to session in Washington, DC, U.S., July 31, 2021. REUTERS/Elizabeth Frantz

Progressive (NYSE:PGR) members of the House Democratic caucus have already suggested the $1 trillion package is inadequate, and the Senate could likewise impose changes that could complicate its chances of becoming law.

But supporters, including Schumer and Republican Senate Minority Leader Mitch McConnell, have been optimistic about its prospects.

Latest comments

Could they have possibly found a more beatific photo of St. Joseph of Biden? The patron Saint of senile incompetent bumbling old preverts
How much money is actually spend on infrastructure? Maybe 30%?
btw..a trillion is a 1 with 15 zeros
i suddenly found my new calling: govt. contractor
You’re 20 years behind. Signed, 18 year federal contractor operator.
stupid government want to keep money printing while banksters are already out of collateral (stuff to buy) and are forced to reverse repo, which reached $1 TRILLION yesterday!!!
another uneducated trump supporter showing his non-understanding of what reverse repos are actually being used for.
 another rad1cal left dem0ncrat thinks that $1 TRILLION in reverse repo is OK & does not know at all how economy works.
Spending my cash.
Buy gold
hi
nice
waooo
can anyone help me?
can any one help me???I want too us events are positive ya negative Dow n NASDAQ (future) will be in green ya red???plz comment
market dump.
not only what you mentione but they didnt raise the debt ceiling which mean the us will default on its obligation and possibly suffer a credit rating decrease. Monday will be bad! Very bad!
Dow n NASDAQ fly on monday Dow Minimum 500 point's gap up Nasdaq minimum 150 point's gapup
It is Full of porks
Yes republican and democrat pork so lovely and tasty :)
Japan national debt is 2.4x gdp. Usa is nowhere near that level. So sit back n relax ur weekend.
maturity date of debts are coming in August we will see if they will be able to pay.
Democrats want to bankrupt America $3.5 trillion package and they dont care about all of America when they are willing to use reconciliation they are criminals
America has been bankrupt since 1913
Did anyone else read near the end of the piece where Democrats are going to pass the 3.5 trillion package without republicans. Welcome to the Socialist States of America!!
Wow needs the QOP?
you guys would be praising this bill if all the money went into military spending, because God forbid we use taxes money on infrastructure
There is no tax money, only credit. That is the main issue. Moreover, central planning of public spending is a failed idea by itself. It will be more expensive, lower quality or in case of "human infrastructure", simply a waste. What can be will be in control of the government. Current generation will pay for it with inflation, next generations will be with their freedoms. Sorry for being so dramatic. Not in favor of spending it on military btw.
It went down from $3.5 trillion to $1 trillion in a week and they are doing a Saturday session....Democrats must be panicking about mid terms and Biden's plummeting approval. It was reported that the two institutions that have lost the most approval over the past year are teachers and health care, and the greatest gain in approval was police. Mainstream media has seen its lowest historic approval in the US below 30%, almost as low now as US approval of Congress. Everything the left touches is seeing massive drops in approval. This week even democrat support of Biden's COVID response dropped to historic lows. NBA, Entertainment Award Shows, Olympics, Super Bowl...all having massive drops in viewership, several at historic low viewership. The democrats even lost 6 house seats last election. They are in trouble keeping this narrative going even with the entire mainstream media apparatus acting like North Korea news promoting the Mother Party's agenda.
Total 4.5T the 1T bill is just the first bill the second bill will be 2.5-3.5T
Dems wont lose because trumps base which is 1/3 of the GOP base wont vote because they have no faith in elections. GOP needs to convice them its safe which theyre failing at mesirably
The are literally lining up to give your money away to billionaires and political donor class
Why would agreement on $1T move the market?  Low range of what has been pitched all year.  AND pursued in the last administration as well.   Non-story.    The real real story would be if they are allowed to push $3-5T more in climate and other make believe pork to solidify their power over you.  Then the market follows the pork.  Hope that does not happen
free Money
...for the power elite
If legislation is the way to recovery from pandemic and and also meet the needs of those who survived it
Very little of this spending is about "needs" PB.  It is about Government power.
50 % for Infrastructure and 50 % for kickbacks
Politicians and their families get rich… the people loss purchasing power… and we become more poor… hyperinflation around the corner… buying bitcoin
"NOBODY " is talking about the 28.5 trillion debt ceiling we hit today. This Saturday session is to discuss how much more credit the federal government needs!!
Every politician that voted for this bill, gets a check. 100%
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