After months of work, U.S. senators unveil $1 trillion infrastructure bill



By David Morgan and Richard Cowan

WASHINGTON, Aug 1 (Reuters) - U.S. senators introduced a sweeping $1-trillion bipartisan plan to invest in roads, bridges, ports, high-speed internet and other infrastructure, with some predicting the chamber could pass this week the largest public works legislation in decades.

The massive infrastructure package, a goal that has eluded Congress for years, is a top legislative priority for Democratic President Joe Biden, who billed it on Sunday as the largest such investment in a century.

Senators said the 2,702-page bill included $550 billion in new spending over five years for items such as roads, rail, electric vehicle charging stations and replacing lead water pipes on top of $450 billion in previously approved funds.

"I believe we can quickly process relevant amendments and pass this bill in days," Senate Majority Leader Chuck Schumer, a New York Democrat, said of the legislation after it was announced by a bipartisan group of senators.

"This is a really important bill because it takes our big, aging and outdated infrastructure in this country and modernizes it. That’s good for everybody," said Senator Rob Portman, the lead Republican negotiator.

However, some Republicans criticized the bill as too costly.

"I’ve got real concerns with this bill," Republican Senator Mike Lee said in a floor speech. "All is not well with the way we spend money."

It was not yet clear whether senators outside the bipartisan group that negotiated the bill will offer amendments that could possibly upset the delicate coalition that was cobbled together.

If the bill passes the Senate, it must be considered in the House of Representatives, where some Democrats have blasted it as too small and the Democratic leadership has paired it with a $3.5 trillion "human infrastructure" bill to pour money into education, child care, climate change and other priorities.

Democrats want to offset that social spending with tax hikes on corporations and wealthy Americans earning more than $400,000 a year, measures opposed by Republicans, leaving the fate of both bills up in the air.

Sunday night's developments capped months of negotiating, and infighting, among several groups of senators and the White House.

Initially, Biden said he was seeking about $2 trillion in a bipartisan bill, an amount that Republicans rejected as wasteful and unnecessary.

A group of Republican senators then worked on a plan to spend far less, an effort that eventually died, raising questions if Congress could fashion a deal allowing the Democratic president to fulfill his Jan. 20 inauguration promise of working cooperatively with Republicans.

A bipartisan group of senators, led by Arizona Democrat Kyrsten Sinema, a moderate, and the conservative Portman toiled for months, adding input from House centrists, on a new plan closer to what Biden would accept.

Late in June the group said it had reached a $1.2-trillion deal, but filling in details took more than a month.

With prodding from Schumer and Biden, the negotiators put their staffs to work, nearly around-the-clock, culminating in Sunday's final deal.
Reporting by David Morgan and Richard Cowan; Additional reporting by Michael Martina; Writing by David Lawder and Arshad Mohammed; Editing by Diane Craft and Clarence Fernandez

면책조항: XM Group 회사는 체결 전용 서비스와 온라인 거래 플랫폼에 대한 접근을 제공하여, 개인이 웹사이트에서 또는 웹사이트를 통해 이용 가능한 콘텐츠를 보거나 사용할 수 있도록 허용합니다. 이에 대해 변경하거나 확장할 의도는 없습니다. 이러한 접근 및 사용에는 다음 사항이 항상 적용됩니다: (i) 이용 약관, (ii) 위험 경고, (iii) 완전 면책조항. 따라서, 이러한 콘텐츠는 일반적인 정보에 불과합니다. 특히, 온라인 거래 플랫폼의 콘텐츠는 금융 시장에서의 거래에 대한 권유나 제안이 아닙니다. 금융 시장에서의 거래는 자본에 상당한 위험을 수반합니다.

온라인 거래 플랫폼에 공개된 모든 자료는 교육/정보 목적으로만 제공되며, 금융, 투자세 또는 거래 조언 및 권고, 거래 가격 기록, 금융 상품 또는 원치 않는 금융 프로모션의 거래 제안 또는 권유를 포함하지 않으며, 포함해서도 안됩니다.

이 웹사이트에 포함된 모든 의견, 뉴스, 리서치, 분석, 가격, 기타 정보 또는 제3자 사이트에 대한 링크와 같이 XM이 준비하는 콘텐츠 뿐만 아니라, 제3자 콘텐츠는 일반 시장 논평으로서 "현재" 기준으로 제공되며, 투자 조언으로 여겨지지 않습니다. 모든 콘텐츠가 투자 리서치로 해석되는 경우, 투자 리서치의 독립성을 촉진하기 위해 고안된 법적 요건에 따라 콘텐츠가 의도되지 않았으며, 준비되지 않았다는 점을 인지하고 동의해야 합니다. 따라서, 관련 법률 및 규정에 따른 마케팅 커뮤니케이션이라고 간주됩니다. 여기에서 접근할 수 있는 앞서 언급한 정보에 대한 비독립 투자 리서치 및 위험 경고 알림을 읽고, 이해하시기 바랍니다.

우리는 웹사이트에서 최고의 경험을 전해드리기 위해 쿠키를 사용하고 있습니다. 자세히 읽거나 쿠키 설정을 변경하세요.

리스크 경고: 고객님의 자본이 위험합니다. 레버리지 상품은 모든 분들에게 적합한 것은 아닐 수 있습니다. 저희 리스크 공시를 참고해 주시기 바랍니다.