Factbox: Key Provisions of the Bipartisan U.S. $1 Trillion Infrastructure Bill

WASHINGTON (Reuters) – Members of the Democratic-led U.S. House of Representatives are contemplating a vote on Friday regarding a bipartisan infrastructure bill valued at approximately $1 trillion. This legislation, which aims to enhance America’s roads, bridges, and broadband networks, was already passed by the Senate in August.

The bill represents a key domestic priority for President Joe Biden and includes $550 billion in new allocations, while the remainder is made up of previously approved funding.

Key Highlights of the Bipartisan Bill:

New Spending Allocations:

• Roads, bridges, and major projects: $110 billion
• Passenger and freight rail: $66 billion
• Broadband infrastructure: $65 billion
• Water infrastructure, including the removal of lead pipes: $55 billion
• Public transit: $39.2 billion
• Resilience measures, which encompass flood and wildfire mitigation, ecosystem restoration, weatherization, and cybersecurity: $47.2 billion
• Electric vehicle infrastructure, including charging stations: $7.5 billion
• Addressing legacy pollution through initiatives such as cleaning up brownfield and Superfund sites, reclaiming abandoned mine lands, and plugging orphan oil and gas wells: $21 billion

New Financing Proposals:

The bill outlines several strategies to finance the planned expenditures, along with the estimated revenue gains over the next decade, as assessed by Congress’ nonpartisan Joint Committee on Taxation and the Congressional Budget Office:

• Repurposing unused COVID-19 relief funds: $210 billion
• Proceeds from future spectrum auctions and the February 2021 c-band auction: $87 billion
• Economic growth projections: $56 billion
• Return of unemployment insurance funds from certain states: $53 billion
• Delaying the Medicare Part D rebate rule: $51 billion
• Implementing information reporting requirements for cryptocurrency: $28 billion
• Reinstating Superfund fees: $14.5 billion