Factbox-What's in the bipartisan U.S. $1 trillion infrastructure bill?
- S&P 500 climbs to record closing high; IBM weighs on the Dow
- Intel (INTC) Stock Sinks 7% as Q3 Revenue Misses, Guidance Disappoints and CFO Exits
- Snap (SNAP) Stock Just Crashed 25% Following Earnings
- Trump Media To Go Public Via $1.7 Billion SPAC Deal, Aims to Fight the Big Tech
- Tesla (TSLA) Beats EPS and Revenue Views on Improving Gross Margins, Analysts Praise Very Solid Quarter But Warn of 'Aggressive Valuation' as Stock 'Priced to Perfection'
FILE PHOTO: The U.S. Capitol building on Capitol Hill, seen during sunset in Washington, U.S., September 30, 2021. REUTERS/Elizabeth Frantz
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
WASHINGTON (Reuters) - The Democratic-controlled U.S. House of Representatives are discussing whether to vote on Friday on a roughly $1 trillion bipartisan infrastructure bill to update America's roads, bridges and broadband networks, passed by the Senate in August.
The legislation is one of President Joe Biden's top domestic priorities and includes $550 billion in new spending, while the rest of the $1 trillion is previously approved funding.
Here are some of the details of the bipartisan bill:
* Roads, bridges and major projects: $110 billion
* Passenger and freight rail: $66 billion
* Broadband infrastructure: $65 billion
* Water infrastructure, such as eliminating lead pipes: $55 billion
* Public transit: $39.2 billion
* Resiliency, including flood and wildfire mitigation, ecosystem restoration, weatherization and cybersecurity: $47.2 billion
* Electric vehicle infrastructure, including chargers: $7.5 billion
* Addressing legacy pollution including cleaning up brownfield and Superfund sites, reclaiming abandoned mine lands, plugging orphan oil and gas wells: $21 billion
The plan has a number of proposals to finance the spending, including the following items and the revenue gains from each over the next decade, as estimated by Congress' nonpartisan Joint Committee on Taxation and Congressional Budget Office.
* Repurposing unused COVID-19 relief funds: $210 billion
* Sales of future spectrum auctions and proceeds of February 2021 c-band auction: $87 billion
* Economic growth: $56 billion
* Return of unemployment insurance funds from some states: $53 billion
* Delaying Medicare Part D rebate rule: $51 billion
* Applying information reporting requirements to cryptocurrency: $28 billion
* Reinstating Superfund fees: $14.5 billion
(Reporting by David Morgan and Makini Brice; Editing by Richard Cowan and Alistair Bell)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart allowing some shoppers to buy bitcoin at Coinstar kiosks
- Barbados elects first-ever president, shedding colonial past
- Intel reports third-quarter revenue below estimates
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!