The Infrastructure Investment and Jobs Act has an overall price tag of about $1 trillion, with around $550 billion in new public-works spending above what already was expected in future federal investments.
The legislation passed the Democratic-controlled Senate in a 69-30 vote on Aug. 10, with Senate Minority Leader Mitch McConnell among the 19 Republicans who supported the measure. It cleared the Democratic-run House of Representatives on Nov. 5 in a 228-206 vote, with 13 House Republicans backing it.
Below is a visual breakdown for the infrastructure package, as Biden and his fellow Democrats now focus on advancing their party’s $1.75 trillion social-spending and climate bill, known as the Build Back Better plan.
How does it all get paid for? Below is a visual breakdown of the funding sources for the infrastructure law.
This report was first published on Sept. 20, 2021.
MarketWatch’s Robert Schroeder contributed to this report.