U.S. politics and policy updates
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The U.S. Senate passed a comprehensive $1 trillion in infrastructure bills On Tuesday, Joe Biden and Congressional Democrats achieved major victories.
19 Republicans, including Senate Minority Leader Mitch McConnell (Mitch McConnell), and all Democrats in the upper house of Congress support the bill, which will provide $550 billion in funding over the next five years. New federal spending.
The 69-30 vote is a rare manifestation of bipartisan cooperation in a fiercely divided Washington.The Senate is currently split at a ratio of 50-50 Democratic Party And Republicans.
The 2,700-page infrastructure investment and employment bill will now be reviewed by the House of Representatives, and the Democrats will control the House of Representatives with a narrow advantage.
Speaker of the House of Representatives Nancy Pelosi said that she would only consider legislation as a separate piece of legislation at the same time. $3.5tn budget bill It includes new social plans and climate measures, which the Democrats intend to pass without Republican support. The Senate is expected to begin debating the measure later on Tuesday. The House of Representatives, which is currently adjourned, will not return to Washington until autumn.
Joshua Bolten, chief executive of the Business Roundtable, welcomed the Senate vote on Tuesday and urged “the House of Representatives to use this momentum to return to Washington to accept the bill and pass it during the extended recess”.
“Now is the time to complete this work and serve the American people,” Bolten added.
Infrastructure Act distribute Billions of dollars are used to upgrade American roads, bridges, and tunnels, as well as airports, railroad networks, and power grids. The proposal also includes investment to improve Americans’ access to broadband and clean drinking water.
The independent Congressional Budget Office released an analysis late last week showing that the plan will add $256 billion to the projected national deficit over the next ten years.
But the author of the bill, Democratic Senator Kyrsten Sinema from Arizona, and Republican Rob Portman from Ohio, insisted that a series of income-increasing measures would be adopted to fully “pay” the bill, including a redistribution agreement. $200 billion in unspent Covid-19 relief funds, postponed planned medical insurance rebates and recovered unused federal funds originally used for unemployment insurance.
Sinema and Portman stated that the CBO’s analysis did not consider all the ways in which the bill would offset mid- to long-term costs.
The bill also includes a controversial plan that requires Cryptocurrency trading Report to the Internal Revenue Service of the Federal Revenue Service. The plan is expected to raise nearly 30 billion U.S. dollars for the Ministry of Finance, but it has aroused the anger of investors and others in the crypto industry, who said it will place an undue burden on digital currency miners and software developers.
Although Donald Trump has repeatedly intervened, the bipartisan infrastructure bill has received strong support from the Republican Party, and he has threatened to refuse to support members of the former president’s political party who supported the plan.
Trump is banned by most social media platforms for his role in the US Capitol attack on January 6. He is trying to re-establish his position on the political stage before next year’s midterm elections, when he will control the House of Representatives and the Senate. grab.
The former president did not rule out the possibility of running for the White House again in 2024. He issued a statement on Tuesday stating that “no one will understand why Mitch McConnell allowed this non-infrastructure bill to pass”, saying that Senate Republicans were “politically The most overrated person”.
But McConnell and 18 other Republicans, including Trump’s ally Lindsey Graham, dismissed these threats. McConnell said he was “proud” to vote for the agreement and “proved that both sides of the political aisle can still come together around a common-sense solution.”
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