(Bloomberg) Bipartisan infrastructure agreement announced on Thursday carves out $579 billion from the $2.25 trillion plan unveiled by Washington in March. Roads and bridges win in the package as they account for $109 billion of the $579 billion.
The latest infrastructure deal is below what President Joe Biden wants on the broader economic agenda.
Priorities such as spending on child and senior care, as well as support for the environment may still move through Congress via budget reconciliation.
AFL-CIO’s president of Transportation Trades Department Greg Regan sees the deal as a major step towards meeting the infrastructure needs of the US.
The bipartisan deal may attract ire from environmental activists as it is light on climate spending, although a budget reconciliation may call for further action.
Although the deal includes $7.5 billion for electric vehicle charging stations, it excludes $174 billion for similar initiatives.
The plan provides relief as it avoids an increase in the 18.4 cents per gallon federal gas tax, but levies on high income individuals and corporations remain on the table.
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