WASHINGTON — President Biden set to hold a signing ceremony at the White House Monday for his bipartisan infrastructure bill, which 19 Republican senators and 13 Republican representatives voted for along with most Democrats.
The legislation allocates $550 billion to new funding for roads and bridges, trains, public transit, internet connectivity, and more electric car charging stations.
Many projects take many years to finance and complete.
However, this is only a small part of President Biden’s agenda.
WHAT ABOUT PART 2?
Part two is known as the “Build Back Better” plan.
Democrats want this bill to transform everything, from child care to healthcare.
It is as it stands now. It would limit child-care costs to 7% of the average income, while providing four weeks of paid family time for parents to care for their child until they are born.
It would allow seniors to purchase drugs at a lower price and help fund climate change programs.
These policies cost around $1.75 trillion right now. They are funded by new tax increases on multi-millionaires as well as businesses.
Some republicans voted against the infrastructure bill. However, they are not backing the Build back Better Act. To make it law, all senators must vote in favor of it.
COULD THIS BE MADE LAW SOON
Although a vote on the Senate seems far away, Democratic leaders believe that a vote in this House could occur this week. However, there are new obstacles.
The timing of any vote in the House may be contingent upon the Congressional Budget Office and their “CBO score.”
The score is a non-partisan, respected analysis by economists outlining the true cost of legislation. In short, they are fact-checking President Biden’s math.
What the CBO report reveals could determine this bill’s fate.
Some moderate Democrats have said they won’t vote for it until they see the numbers. The votes might not be available if the report is different from what the White House has been saying.
The Congressional Budget Office says they are reviewing the bill but it is “complicated” to go through over 2,000 pages of legislation.
The Congressional Budget Office has no timeline for when it will happen.