United States

Factbox: What's in the U.S. Senate's bipartisan $1 tln infrastructure plan?

3 minute read

WASHINGTON, July 29 (Reuters) - A group of negotiators in the U.S. Senate on Wednesday said they have reached agreement on the major components of a $1 trillion bipartisan infrastructure deal - a key priority for President Joe Biden.

The Senate on Wednesday voted to move forward with the package, which includes about $550 billion in new spending, the White House said. The rest of the $1 trillion will be previously approved spending for these areas.

Here are some of the details of the bipartisan framework:

NEW SPENDING

* Roads, bridges and other major projects: $110 billion

* Power infrastructure, including grid authority: $73 billion

* Passenger and freight rail: $66 billion

* Broadband infrastructure: $65 billion

* Water infrastructure, such as eliminating lead pipes: $55 billion

* Resilience (preparing infrastructure for the impacts of climate change such as floods and other extreme weather events, and cyber attacks): $50 billion

* Public transit: $39 billion

* Airports: $25 billion

* Ports, waterways: $17 billion

* Safety, which funds highways and pedestrian safety programs: $11 billion

* Electric vehicle infrastructure, including chargers: $7.5 billion

* Low carbon and zero emission school buses and ferries: $7.5 billion

FINANCING

The plan includes a number of proposals to finance the spending.

* Repurposing of unused COVID-19 relief dollars: $205 billion

* Proceeds of a February auction of wireless frequencies needed by 5G cellular networks: $67 billion

* States returning unused federal unemployment supplement: $53 billion

* Economic growth returning from a 33% return on investment in long-term infrastructure projects: $56 billion

* Recouping inappropriately unemployment benefits: $50 billion

* Delaying Medicare Part D Rebate rule: $49 billion

* Sales of future spectrum auctions: $20 billion

* Applying information reporting requirements to cryptocurrency: $28 billion

* Extending fees on government-sponsored enterprises: $21 billion

* Reinstating Superfund fees : $13 billion

* Mandatory sequester: $8.7 billion

* Extending customs user fees: $6 billion

* Sales from the strategic petroleum reserve: $6 billion

* Savings from reducing Medicare spending on discarded medications: $3 billion

* Extending available interest rate smoothing options for pension funds: $2.9 billion

Reporting by Jarrett Renshaw and Nandita Bose; Editing by Scott Malone

Our Standards: The Thomson Reuters Trust Principles.

More from Reuters