Report: Senate expected to pass infrastructure bill

The infrastructure bill’s framework is set up to generate significant economic benefits and returns. It is financed through a combination of closing the tax gap, redirecting unspent emergency relief funds, targeted corporate user fees and the macroeconomic impact of infrastructure investment. Photo: P&Q Staff

The Senate advanced a bipartisan $1.2 trillion infrastructure bill and is expected to vote on the bill in the days to come.

The eight-year bill will reportedly produce about $550 billion in new spending – with $110 billion dedicated to the nation’s roads, bridges and major transportation projects.

According to the White House, the $110 billion for roads, bridges and major transportation projects is the largest slice of the bill dedicated to transportation initiatives. Seventy-three billion dollars is reportedly for power infrastructure, with $66 billion for passenger and freight rail, $65 billion for broadband and $50 billion for water infrastructure.

The money dedicated to public transit ($39 billion), airports ($25 billion), environmental remediation ($21 billion), ports ($17 billion) and transportation safety ($11 billion) also represent sizable chunks of the bill.

At least 10 Republican senators are expected to vote for the infrastructure bill, CNBC reports. The White House indicates that the bill be funded through a variety of means – including from unused relief funds tied to the pandemic and unemployment insurance.

“The final product we expect the Senate to approve in the coming days will provide transformative federal investment into our crumbling infrastructure network, grow our national economy and create millions of jobs throughout the country,” says Michael Johnson, president and CEO of the National Stone, Sand & Gravel Association (NSSGA). “This is a once-in-a-generation infrastructure effort, and NSSGA urges every senator to support this legislation.”