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.
And the bill finally is close to becoming law, as it cleared the House of Representatives on Nov. 5. It just needs to get signed into law by President Joe Biden, who first announced a bipartisan deal on infrastructure
back on June 24. The White House said Biden plans to do the signing on Monday.
As Democratic-run Washington finally gets the infrastructure bill across the finish line and also works on advancing Biden’s $1.75 trillion social-spending and climate 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.
This report was first published on Sept. 20, 2021.
MarketWatch’s Robert Schroeder contributed to this report.