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Biden has agreed with senators to cut $ 1 billion in infrastructure

Biden has agreed with senators to cut $ 1 billion in infrastructure

U.S. President Joe Biden has reached an agreement on a $ 1 billion infrastructure package to spend billions of dollars on renovating roads, bridges and broadband networks over the next eight years.

With an agreement a bipartisan group of senators it misses the $ 2.3 million infrastructure spending plan announced by Biden in March and does not meet the $ 1.8 billion in social security network spending proposed by the U.S. president in April.

But it represents a a great milestone for Biden, vowed to use his decades of experience as a Delaware senator to work with Republicans and address the polarization that has become endemic in U.S. politics.

Biden announced the deal at the White House on Thursday after meeting with moderate senators who signed the pledge, among others. Kyrsten cinema, Arizona Democrat and Susan Collins, Maine Republican senator.

“We made serious commitments at both ends,” the president said, and reminded him of “the days we used to do a tremendous job in Congress.”

Democrats and the White House hope to pass the rest of the economic agenda using a meager majority in Congress, separate from the bill for bilateral infrastructure negotiated with Republicans.

But House Speaker Nancy Pelosi on Thursday said the legislation should be tied: The lower house in Congress would only consider the party’s infrastructure package as Biden’s broader economic priorities (including corporate and wealth tax increases) passed the Senate.

Biden’s infrastructure bill has been crucial over the years in addressing chronic underfunding of U.S. transportation networks and other facilities, and Putting America in a better position century to compete with China.

“He’s making a big investment with autocrats,” he said in a statement to the White House that evening. “We need to move and we need to move fast.”

The high-infrastructure deal was the target of Republicans and Democrats, as well as Donald Trump’s presidency, but it was elusive. Biden said he has been flexible in negotiations and is unlikely to make further requests.

“If they have my word, I will continue with what is proposed. And they also gave me the word. That’s where I come from is enough for me, ”Biden said.

Some members of the bilateral group celebrated the agreement. “It’s Infrastructure Week!” tweeted Louisiana Republican Sen. Bill Cassidy.

An agreement on infrastructure, if approved by Congress, would come Biden has a $ 1.9 million stimulus bill, was approved in March as an emergency measure to spark a recovery from the country’s pandemic.

The White House said the proposed deal involved $ 579 billion in new spending; with the renewal of existing funding for infrastructure, the total would be $ 973 billion over the next five years, and $ 1.2 billion over the next eight years.

The new spending would include $ 109 billion in roads and bridges, $ 66 billion for rail networks and $ 49 billion for public transportation. Ports, airports and electric vehicle charging stations would also get extra funding.

The greatest tension over the infrastructure package was linked to disagreements over ways to raise revenue so that the deficit does not increase.

Finally, the bilateral group agreed to cover spending with unspent money from previous rounds of pandemic-related stimulus measures, the Internal Revenue Service’s ability to enforce tax laws, and the sale of the Strategic Oil Reserve.

Republicans proposed raising the federal gasoline and electric vehicle user fees to pay for the plan, but the White House rejected the idea because it would violate Biden’s commitment not to raise taxes that earned less than $ 400,000 a year.

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