Republican and Democratic Senators Consent on a $300 Billion Transportation Package

Republican and Democratic Senators Consent on a $300 Billion Transportation Package

US senators of both sides have agreed on a $300 billion transportation package on May 24, 2021. The move is aimed at increasing funding for highways, roads, and bridges. 

The legislation, released by the Senate Environment and Public Works Committee, would raise funding by 34% to about $300 billion in about five years.

Shelley Moore, the committee’s ranking member, said the agreement will help to not only repair but bring in new transportation infrastructure in America.

The agreement happens after, on Wednesday, House Republicans reapproved a $400 billion funding to bridges, highways, and transit systems. 

Republican senators had proposed a $568 billion infrastructure package in April, which is way below the $1.7 trillion Washington aimed for as a counteroffer to the initial $2.3 trillion. 

U.S stocks are currently gaining as the dollar loses. SPY is up 0.47% on premarket, QQQ is up 0.71% on premarket, EURUSD is up 0.26% 

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