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Joe Biden's Infrastructure Plan: Billion Project Takes An Important Hurdle in the US Senate

2021-07-29T00:56:23.610Z

For months there was a dispute about the US President's infrastructure package. Now the Senate has announced a breakthrough - with many Republican votes. Joe Biden called the deal "historic."



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Road network in Chicago, Illinois

Photo: FIRS MAURY / EPA

It is not all that common right now for US Democrats and Republicans to publicly demonstrate unity or even work together.

The recent skirmishes in the House of Representatives speak for themselves.

In the other chamber of the congress, however, there is actually an agreement.

The Senate voted 67 to 32 in favor of advancing President Joe Biden's infrastructure program.

The ten negotiators from both parties had previously agreed on a compromise.

The $ 1.2 trillion package is not yet fully approved, but the vote is a breakthrough.

For months there had been a dispute about how much money should be included in the package - and where this money was taken from.

“We still have a long way to go.

But that was a critically important first step, "said Republican Susan Collins after the vote.

The package is now being debated further in the Senate.

It is still open exactly when the final vote will take place.

As expected, the development was also received positively in the White House.

“We got a historic deal, folks.

It's the largest infrastructure program in a century.

(...), ”President Biden said on Twitter.

The financing will still be disputed

One thing is clear: the compromise continues to burden the already lush US budget, even if tens of billions of previously unused corona aid were rededicated.

According to media reports, the package will require $ 550 billion in new funds, with the remainder being reallocated budget items.

Overall, the US had budgeted budget spending of six trillion dollars last.

Originally, Biden had announced plans to raise taxes for the rich and corporations.

When it came to corporate taxes, however, he recently backed down in negotiations with the Republicans - and offered to drop the corporate tax increase.

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Source: spiegel

All business articles on 2021-07-29

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