Bipartisan Group Inches Closer to Infrastructure Deal, Now at $973 Billion

By:
Chris Gaetano
Published Date:
Jun 24, 2021
GettyImages-1169288059-bridge-minneapolis

A bipartisan group of lawmakers said they have come to an agreement on the basic framework for a new infrastructure plan, with only certain smaller details left to be hammered out before a final proposal is unveiled, the Wall Street Journal reported.

The package, now at an estimated $973 billion (quite lower than the White House's initial bid of over $2 trillion) contains many of the the same provisions for roads, bridges, transit, airports and enhanced infrastructure for broadband, water and electric vehicles, but leaves out the large investments in housing, home care, and workforce development that were first proposed.

The Journal noted that the most contentious aspects of the negotiation were less about the content of the package itself and more about how it will be financed. The White House, along with Democrats in Congress, had wanted to rest the cost on corporate tax increases combined with enhanced tax enforcement. On the other side, Republicans have said that they'd prefer to fund the plan through fees and an increase in the gas tax. Neither side liked the other's suggestions, and so the two parties are apparently looking to defray costs by shifting funding from other programs, as well as engaging in public-private partnerships, though it is unknown how much revenue either of these would bring.

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