President Biden Announces Bipartisan Infrastructure Deal

President Biden announced yesterday that he agreed to a deal with a bipartisan group of Senators on his  infrastructure plan. According to the White House, the total cost of the proposed deal is $1.2 trillion over eight years with $579 billion in new spending. $109 billion for roads, bridges, and other infrastructure projects, $49 billion for public transit, $66 billion for rail, $25 billion for airports and $16 billion for ports and waterways. Also included would be $55 billion in water infrastructure, $73 billion in the nation’s power structure and $65 billion for improvements to the countries broadband system and many other investments.

Many of the details surrounding the package are still unclear including how it will be paid for.  The original plan Biden unveiled in March was for $2.25 trillion for many improvements. It would have also included investments in care-giving for aging Americans and in workforce training.  The investments for aging Americans and those in workforce training have been nixed from the current proposal.