Home World Hundreds of billions of U.S. dollars in investment are about to be in place

Hundreds of billions of U.S. dollars in investment are about to be in place

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Hundreds of billions of dollars in investment is about to be in place

As reported by the Financial Associated Press (Shanghai, editor Shi Zhengcheng), on Wednesday, local time, members of the two parties in the Senate who participated in the negotiation of the infrastructure bill stated that an agreement had been reached and the voting process would be entered as soon as that evening.

In an interview with the media, Republican Senator Rob Portman, who led the cross-party talks, said that the two sides have now reached agreement on major issues and are preparing to advance the legislative agenda. It is expected that the legislative text will be ready before the vote on Wednesday. Democratic Senator Kyrsten Sinema, who was also involved in the negotiations, also confirmed to reporters that the agreement has been reached.

(Source: social media) Since at least 60 senators are required to vote in favor of the infrastructure bill, this also means that at least 10 Republican senators are required to support it. In the past few weeks, five Republican lawmakers including Portman participated in cross-party negotiations. They announced the agreement after meeting with minority leader McConnell on Wednesday, but the attitude of the remaining Republican lawmakers is still unclear.

According to market rumors, the investment scale of the final bipartisan agreement is roughly between US$550 billion and US$579 billion, and the investment direction involves public transportation, network broadband and public utilities. In addition to infrastructure investment, the Democratic Party is also preparing to use the budget mediation process to pass an investment bill worth 3.5 trillion US dollars, which is mainly used for a series of social projects proposed by the White House. Senate Majority Leader Schumer said Wednesday morning that both legislative matters are currently progressing well.

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It should be noted that the Republican Party has always opposed the White House’s increase in tax rates to cover infrastructure investment. More than 500 billion investment will come from municipal bonds, previously unused relief funds and appropriations to strengthen taxation operations.

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