Sunday, May 26, 2024
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HomeBusinessEconomyUS Senate passes bipartisan infrastructure bill

US Senate passes bipartisan infrastructure bill

By Caribbean News Global fav

WASHINGTON, USA – The US Senate on Tuesday passed a $1 trillion infrastructure package onward to go to the House of Representatives for approval and signature by president Joe Biden, to continue building back better.

In a 69-30 in the 100-seat chamber, with 19 Republicans voting yes, signalled a top priority for US president Biden, the biggest investment in US roads, bridges, airports and waterways.

Treasury Janet L. Yellen and Speaker Nancy Pelosi issued separate statements.

Treasury Janet L. Yellen

“With this morning’s vote, the Senate has not only begun the largest modernization of American infrastructure since Eisenhower built the Interstate System; it has also taken an important step towards correcting a decades-long pattern of underinvestment.

For more than a generation, funding for crucial national priorities like infrastructure has been on a downward trajectory, harming workers and businesses alike. During the pandemic, we saw how a broadband network that was not accessible for millions of Americans made it more challenging for businesses to operate and workers to perform their jobs remotely. Now after many years, this trend of underinvestment is being reversed. That’s what today’s vote signifies. I applaud the leadership and bipartisanship of president Biden and all the senators who supported this critical legislation.

It’s important to understand what this bill is and what it isn’t. It is not a stimulus package like the American Rescue Plan, intended to help people weather a crisis. Instead, this bill is designed to do the hard, generational work of building a stronger, more structurally sound economy with smart investments in the future. Let’s be very clear, that is not a task that can be completed in one piece of legislation.

“Indeed, our work isn’t done here. We have critical investments in the future that we must still address in reconciliation. Because if we truly want to build a stronger economy, we must invest not just in infrastructure, but in other public goods like childcare, education, and affordable housing. I look forward to working with Congress to ensure that today’s economic step forward soon has a sequel.”

Speaker Nancy Pelosi 

“Today is a day of progress, as the Senate has passed the bipartisan infrastructure package and paved the way for not only rebuilding but reimagining our infrastructure for the 21st Century Economy.

The leadership of president Biden has seized this once-in-a-century opportunity to Build Back Better for our country. This bipartisan package helps rebuild the middle class as it rebuilds our infrastructure – creating good-paying American jobs and turbocharging American competitiveness and growth.

“The House will continue to work with the Senate to ensure that our priorities for the people are included in the final infrastructure and reconciliation packages, in a way that is resilient and will Build Back Better.”

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