The US President Joe Biden and a bipartisan group of senators have reached to an agreement on the infrastructure plan. This is a large program, but it is not as comprehensive as the president envisioned. Neither party got everything they wanted in this deal, yet the new plan reflects a consensus that will evolve into a new bill in a few months.
Joe Biden wanted the new plan to include a broader proposal with money to improve wages for aid workers, childcare, health, and climate change. It is a $ 1.2 trillion plan, which is the estimate that Congress was on its way to spend, but it represents half of what was initially planned.
There is $550 billion in new spending that will be earmarked for transportation projects like highways and bridges across the country. The plan aims to inject $266,000 million dollars that are not related to transportation, where $73,000 million dollars will be allocated for energy, $65,000 million for broadband, and $55,000 million for projects related to the environment and water.
The US President got two-thirds of the funding he wanted, and that is significant within the bipartisan compromise between a group of Republican and Democratic senators that in the future could work to join forces with some reforms such as the police. Democrats will continue to use their narrow majority advantage to pass plans like coronavirus relief even if they fail to receive a Republican vote.
Democrats will use the reconciliation plan to approve the economic agenda, as well as reach several agreements such as expanding child care and universal preschool, and even a tax hike. The group that has reached the agreement confirmed that the new plan would not be financed through new taxes, and lawmakers will seek other ways to increase the nation’s income.
The government plans to implement a more rigid tax code and reuse funds for COVID-19 that have not been used, and other initiatives include the sale of oil from the strategic reserve of crude in the United States. Specialists hope that Congress can discuss and approve the new plan before the end of September. It is estimated that 75% of the jobs that the infrastructure plan will create are going to allow workers who do not have a high school degree to obtain employment, according to a report by the Centre on Education and the Workforce (CEW) of Georgetown University in Washington.