Money

US Senate officially passes $1 trillion infrastructure bill

Biden

We’ve been talking about it for months, but the day is finally here

The US Senate has officially passed the $1 trillion dollar infrastructure bill in what is a major win for Biden and the American people.

The bill was first on the list of Biden’s priorities, with Senators voting 69-30 to advance the big spend to the House of Representatives for further consideration.

It’s unclear how the bill will be viewed in the House… with a number of progressive Democrats already flagging that it isn’t progressive enough or as wide-reaching as it should be.

It follows Speaker Nancy Pelosi saying she won’t agree to the trillion-dollar spend until the Senate also passes part two of the infrastructure plan – a $3.5 trillion package.

Regardless, the current bill gaining bipartisan support in the Senate is a significant victory for Biden’s presidency.

In a joint statement, those who led the negotiations say:

“Congress has talked about truly modernizing our nation’s infrastructure for as long as we can remember… the United States Senate delivered so that we can finally give the American people the safe, reliable, and modern infrastructure they deserve”.

The bipartisan bill includes around $550 billion in new spending… which will be invested in infrastructure projects like roads, bridges, broadband, water and rail.

Vice President Kamala Harris says it won’t be the middle class who pay for the package.

Up next
Media accountability and Trump’s political fallout put journalism under scrutiny

Media credibility and changing audience interests are putting journalism under the spotlight.

Read the story →
Ticker Today takes a daily view of the world of news, politics and business.With Ahron YoungWhisky & Suits explores law, property finance and business over fine whisky.With Imran Khan and Chris ChristofiThe Founders Method explores practical lessons and systems for entrepreneursWith Jonathan Byrt and Jesse LeeworthyThe Connector explores property and urban growth across Australia and the UK.With Belinda CoateThe Property Playbook delivers research-led insights for property investors.With Tim Graham and Terry RyderState of Hospitality explores the challenges facing Australia's hospitality.With Jeremy KoadlowBuying Power helps young professionals enter property and build lasting wealth.With Victor and Reshmi KumarThe Airport Economist explores global trade, business and economic outlooks.With Tim HarcourtMedia Movers explores the trends shaping Australia's media and global news.With James ManningBroker Business explores strategies to build, grow and sustain a business.With Rex AfrasiabiMoney Matters explores practical financial strategies to build lasting wealth.With Dr Steven EnticottBeyond Education explores the ideas and technology shaping future learning.With Greg CampitelliTicker Air explores the latest aviation news, travel trends and developments.With Ahron YoungEarly Years Dialogue explores the issues shaping Australia's early learning.With Paul MondoMarkets and Machines explores AI, regulation and trends shaping the markets.With Chris BergSocial Intelligence explores how social media and AI transform our daily lives.With Dr Karen SutherlandThe AI Edge explores how artificial intelligence reshapes the world economy.With Brad Gastwirth

More from Ticker

Watch

More in Money

View all →