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Here’s what’s in the infrastructure deal agreed to by Biden and senators

President Joe Biden and a bipartisan group of senators have agreed to a roughly $1 trillion infrastructure plan. So, what would it actually do?

Here’s a breakdown of the spending in the framework, as released by the White House, as well as what the Biden administration says are the proposed funding sources.

Read more: ‘We have a deal,’ Biden says after meeting with senators on bipartisan infrastructure plan

Bipartisan Infrastructure Framework

 

Amount (billions)

Total

$579

Transportation

$312

Roads, bridges, major projects

$109

Safety

$11

Public transit

$49

Passenger and Freight Rail

$66

EV infrastructure

$7.5

Electric buses / transit

$7.5

Reconnecting communities

$1

Airports

$25

Ports & Waterways

$16

Infrastructure Financing

$20

Other Infrastructure

$266

Water infrastructure

$55

Broadband infrastructure

$65

Environmental remediation

$21

Power infrastructure incl. grid authority

$73

Western Water Storage

$5

Resilience

$47

Proposed Financing Sources for New Investment

  • Reduce the IRS tax gap  

  • Unemployment insurance program integrity  

  • Redirect unused unemployment insurance relief funds  

  • Repurpose unused relief funds from 2020 emergency relief legislation  

  • State and local investment in broadband infrastructure  

  • Allow states to sell or purchase unused toll credits for infrastructure  

  • Extend expiring customs user fees  

  • Reinstate Superfund fees for chemicals  

  • 5G spectrum auction proceeds  

  • Extend mandatory sequester  

  • Strategic petroleum reserve sale  

  • Public-private partnerships, private activity bonds, direct pay bonds and asset recycling for infrastructure investment  

  • Macroeconomic impact of infrastructure investment

The White House did not release additional details about the infrastructure
PAVE,
+1.49%

plan, which would need to be approved by Congress. The Dow Jones Industrial Average
DJIA,
+1.04%

climbed to fresh intraday peaks after Biden announced the infrastructure deal.

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