In total, the deal includes $550 billion in new federal investments in America’s infrastructure over five years. However, the package would add $256 billion to the deficit over the next 10 years, the Congressional Budget Office said in a report released Thursday.
Once senators vote on the legislation, they will then send it to the House for approval before the bill heads to President Biden’s desk.
Here’s what we know so far about the latest version of the agreement, according to the CBO report, the bill text, as well as a fact sheet provided by the White House and a 57-page summary released earlier this month.
- Funding for roads and bridges: The deal calls for investing $110 billion for roads, bridges and major infrastructure projects, according to the summary. That’s about the same amount agreed to in a bipartisan bill in June but significantly less than the $159 billion that Biden initially requested in the American Jobs Plan.
- Money for transit and rail: The package would provide $39 billion to modernize public transit, according to the bill text. That’s less than the $49 billion contained in the earlier bipartisan deal and the $85 billion that Biden initially wanted to invest in modernizing transit systems and help them expand to meet rider demand.
- Broadband upgrade: The bill would provide a $65 billion investment in improving the nation’s broadband infrastructure, according to the bill text. Biden initially wanted to invest $100 billion in broadband. It also aims to help lower the price households pay for internet service by requiring federal funding recipients to offer a low-cost affordable plan, by creating price transparency and by boosting competition in areas where existing providers aren’t providing adequate service. It would also create a permanent federal program to help more low-income households access the internet, according to the White House fact sheet.
- Upgrading airports, ports and waterways: The deal would invest $17 billion in port infrastructure and $25 billion in airports to address repair and maintenance backlogs, reduce congestion and emissions near ports and airports and promote electrification and other low-carbon technologies, according to the White House. It is similar to the funding in the bipartisan deal and Biden’s original proposal.
- Electric vehicles: The bill would provide $7.5 billion for zero- and low-emission buses and ferries, aiming to deliver thousands of electric school buses to districts across the country, according to the White House. Another $7.5 billion would go to building a nationwide network of plug-in electric vehicle chargers, according to the bill text.
- Improving power and water systems: The bill would invest $73 billion to rebuild the electric grid, according to the bill text. It calls for building thousands of miles of new power lines and expanding renewable energy, the White House said. It would provide $55 billion to upgrade water infrastructure, according to the bill text. It would replace lead service lines and pipes so that communities have access to clean drinking water, the White House said. Another $50 billion would go toward making the system more resilient — protecting it from drought, floods and cyber attacks, the White House said.
- Environmental remediation: The bill would provide $21 billion to clean up Superfund and brownfield sites, reclaim abandoned mine land and cap orphaned gas wells, according to the White House.
Read more about the bill here.