Date: November 5
Congress passed a $1.2 trillion infrastructure package Friday, approving a signature part of President Joe Biden’s economic agenda. It will deliver $550 billion of new federal investments in America’s infrastructure over five years, touching everything from bridges and roads to the nation’s broadband, water and energy systems. Experts say the money is sorely needed to ensure safe travel, as well as the efficient transport of goods and produce across the country. Democrats claim the bill pays for itself through a multitude of measures and without raising taxes. But the Congressional Budget Office brushed aside several of those pay-for provisions, ultimately finding the bill would add $256 billion to the deficit over the next 10 years. It’s significantly smaller than the $2.25 trillion proposal that Biden unveiled in March, known as the American Jobs Plan.