U.S. House Approves $715 Billion “INVEST in America Act” for Development of Infrastructure

The Democratic majority-led U.S. House of Representatives has its ascent to a $715 Billion surface transportation and water infrastructure bill on July 1, 2021. The action is an early and essential step for sweeping the infrastructure legislation that Congress desires to complete by September.

The bill includes provisions stated by Joe Biden, U.S. President, Joe Biden, in his starting $2.3 Trillion infrastructure proposal. In addition, it also contains spending for rail, highway safety, drinking, bridges, wastewater, electric vehicle charging stations, transit, and road infrastructure. Further, they will also fund programs related to providing money for major projects such as the $ 11.6 Billion plan of connecting New Jersey and New York’s Penn Station in midtown Manhattan through four modern transportation tubes underneath the Hudson River.

The INVEST in America Act has more than $44 Billion added to it during the amendment process so that more significant investments infrastructure could be made. According to the aide’s Transportation and Infrastructure Committee Chairman, the added amount is essentially for passenger rail grants and electric vehicle charging programs. For the first time, the House has voted to pass legislation with earmarks as Democrats and Republicans re-established the practice of empowering lawmakers to add pet projects to spending bills recently.

As per the U.S. House Transportation & Infrastructure Committee, the bill talks about more than 1,470 projects that amount to approximately $5.7 billion in spending. House Democratic aides stated that the measure could potentially benefit a bipartisan working group within the U.S. Senate to covert their $1.2 trillion infrastructure framework into legislative text. Biden has continuously endorsed the bipartisan deal, and the Democratic-led Senate would probably pass the legislation by the end of July. The recent bill contains $ 343 Billion for roads, bridges, and safety, within which $4 Billion is solely for electric vehicle charging infrastructure. The present bill is set to pass this month, after which final congressional approval to the bipartisan infrastructure legislation and the reconciliation bill comes in September. In all, the initiatives could cost America $6 Trillion. House Democrats also desire to produce a similar landmark-related reconciliation bill that would be invested towards addressing climate change, pay for new initiatives with tax hikes on U.S. corporations and the wealthy, and expand social programs.