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Washington Watch: Here’s what’s in the bipartisan infrastructure bill that the House aims to pass — and how it’s paid for – Vested Daily

Washington Watch: Here’s what’s in the bipartisan infrastructure bill that the House aims to pass — and how it’s paid for

The bipartisan infrastructure bill passed the Senate in a 69-30 vote on Aug. 10, with Senate Minority Leader Mitch McConnell among the 19 Republicans who joined with the chamber’s 50 Democrats to support the long-awaited measure.

But the bill still hasn’t become law, as it needs to pass the House of Representatives and get signed by President Joe Biden, who announced a bipartisan deal on infrastructure
PAVE,
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back on June 24.

Sept. 27 is the next key date for the bill, known as the Infrastructure Investment and Jobs Act. That’s the date by when House Speaker Nancy Pelosi, the California Democrat, has promised a vote on the measure.

But there’s “always a possibility that the vote would get delayed,” said the No. 3 House Democrat, Rep. Jim Clyburn of South Carolina, in a CNN interview on Sunday. While Clyburn talked about a potential delay, he also said said lawmakers will “work to get to our goal for Sept. 27.”

Pelosi made her promise in late August to a group of moderate House Democrats to get their support for a procedural vote for a separate spending measure, the party’s $3.5 trillion plan targeting “human infrastructure,” climate change and other Democratic priorities. She also faces pressure from progressive Democrats who say they won’t support the bipartisan infrastructure bill unless the $3.5 trillion package moves ahead as well.

As Pelosi and other Democratic leaders work on advancing the infrastructure bill and the larger package, below is a visual breakdown for the first measure. The Infrastructure Investment and Jobs Act has an overall price tag of about $1 trillion, with around $550 billion in new public-works spending above what already was expected in future federal investments.

How does it all get paid for? Below is a visual breakdown of the funding sources for the infrastructure bill.

Now read: Infrastructure bill mandates new technology to prevent drunk driving — here’s how it would work

Also: These are the stocks for playing Biden’s infrastructure push, analysts say

Plus: U.S. gets C- grade on its infrastructure report card

This post was originally published on Market Watch

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