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8/2, 5:45 AM (Source: TeleTrader)
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Senate finalizes text for bipartisan infrastructure bill

United States senators involved in negotiating a bipartisan infrastructure deal have finalized the legislative language for the measure, bringing the long-awaited legislation to the upper house floor.

"It's been decades since Congress passed such a significant standalone investment and I salute the hard work done here by everybody," Senate Majority Leader Chuck Schumer said about the bill. "Given how bipartisan the bill is and how much work has already been put in to get the details right, I believe the Senate can quickly process relevant amendments."

The entire framework calls for $1.2 trillion in spending for infrastructure over eight years' time, of which $550 billion is reserved for physical infrastructure. Schumer went on to promise that the Democrat-proposed $3.5 trillion-large social spending package will also be brought before the Senate before August recess.

Breaking the News / NL