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The Senate finished drafting this Sunday a first proposal of the infrastructure plan promoted by President Joe Biden, which must now be submitted to amendments before being voted on in the plenary.
After an unusual weekend of work and busy days, the leader of the Democratic majority in the Upper House, Chuck Schumer, announced that the text is now complete and that he expects the amendments to be voted on and the bill to be approved “in a matter of days.”
After several weeks of back-and-forth between Democrats and Republicans, last Wednesday, the Senate voted in favor of debating the initiative, which has support in both parties and seeks to invest approximately one trillion dollars over 8 years in the reconstruction of bridges, railroads, ports and airports in the country.
Once the text has been amended and voted on the floor (where it is expected to pass), the proposed plan will move to the House of Representatives, also controlled by Democrats, but where several Democrats are making its approval conditional on tying it to a much larger public spending package that would significantly raise the country’s debt, taxes on taxpayers and probably inflation.
A month ago, Biden and a group of 22 Democratic and Republican senators trumpeted outside the White House that they had reached an agreement, but later negotiations were complicated, especially by Republican reluctance over how infrastructure investment would be funded.
Earlier, in March, the president had proposed a $2.3 trillion investment, but the White House had to lower it in the face of Republican criticism.