U.S. President Joe Biden announced that a bipartisan deal has been reached on the infrastructure plan with a vote on the draft bill expected this summer.<\/p>\n\n\n\n
The five-year mega plan includes huge government spending and investments of about $1 trillion, with the aim of revitalizing the job market, and overhaul the American infrastructure, especially in the technology sector, and aid the transformation to renewable energy sources.<\/p>\n\n\n\n
Under the plan, around $65 billion will be directed towards providing fast reliable internet for everyone access across the U.S., compared with a previously proposed $100 billion.<\/p>\n\n\n\n
A total of $312 billion will be allocated in transportation projects, 55 billion will go to waterways.<\/p>\n\n\n\n
Around $47 billion will be directed towards resilience against climate change risks.<\/p>\n\n\n\n
Biden, alongside Vice President Kamala Harris, met in the White House with a group of Senators representing both Democratic and Republican to discuss the infrastructure plan.<\/p>\n\n\n\n
After the meeting, Biden told reporters that \u201cWe have a deal.\u201d<\/p>\n\n\n\n
Democrats, who enjoy a simple majority in the Senate with 50 votes and the tiebreaker, will need 10 Republican votes to avoid the filibuster, before passing the spending package with a 51 vote through budget reconciliation.<\/p>\n\n\n\n
The agreement came as Biden compromised and adjusted some of his previously proposed initial plan.<\/p>\n\n\n\n
However, the plan is still set to see about $579 billion in new investments, which will be allocated towards bridges and roads, as well as broadband internet and electric utilities.<\/p>\n\n\n\n
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