U.S. senators have reportedly unveiled a sweeping USD 1-trillion bipartisan deal to invest in roads, ports, high-speed internet, and other infrastructure, making it the largest public works legislation to be drafted in decades.

The bill that has long eluded Congress has been a top priority for U.S. President Joe Biden and includes USD 550 billion allotted to infrastructure expenditure over five years, in addition to USD 450 billion in previously approved funds.

Lead Republican negotiator Senator Rob Portman was quoted saying that the bill is vital to the country as it aims to upgrade and modernize outdated and aging infrastructure, which will have far-reaching benefits for everybody.

However, the legislation has faced criticism from the Republican party, and it has not yet been determined whether senators outside the bipartisan group that sanctioned the bill will create amendments that could knock over the coalition that has been so precariously placed.

Notably, after being passed in the Senate, the bill will be scrutinized in the House of Representatives, where certain Democrats have labeled it to be meager, and have paired it with a ‘human infrastructure’ bill worth USD 3.5 trillion to be spent on climate change, childcare, education, and other priorities.

Moreover, Democrats have also been demanding that the excess social spending be offset with tax hikes on wealthy corporations, and individuals earning over USD 400,000 a year.

Initially, Democratic President Joe Biden had said he was seeking about USD 2 trillion for a bipartisan bill, only to have Republicans vehemently reject the figure as unnecessary and wasteful.

A bipartisan group was then created and was led by Democrat Kyrsten Sinema, the conservative Portman, and a moderate, who worked for months to create a new plan which would be acceptable to both sides.

The group reached a USD 1.2-trillion deal late in June, and after thorough negotiations, the bill was finalized with a bipartisan vote last week.

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https://www.investing.com/news/world-news/us-senators-to-move-forward-with-infrastructure-bill-on-sunday-2575160