US Senate announced a $ 1 trillion bill. on infrastructure
US stock indices increased significantly before trading on Monday since investors welcome the expected quick adoption of the bipartisan bill. The United States will be able to spend a record amount of infrastructure.
At the Dow Jones Premark rose by 0.51%, S & P by 0.60%, NASDAQ 100 by 0.57% (when writing an article).
US Senate on Sunday completed work on the text of the draft law in $ 1 tln. Infrastructure expenses, publishing legislative formulation with a total of 2,702 pages.
The bill developed for several months with the filing of President Joe Biden; his budget was the subject of disputes between democrats and Republicans.
The current text of the bill includes $ 550 billion. New expenses for the construction of roads and charge stations for electric vehicles and the replacement of lead water pipes for the implementation of the implementation for five years.
Amount added to previously approved expenditures of about $ 450 billion.
Initially, Biden and Democrats demanded that the infrastructure law provides for expenses for more than $ 2 trillion., But the Republicans criticized its scale and cost.
The Senate Most Democrat, Chuck Schumer, said that the Senate would consider edits on the infrastructure bill this week. After that, the final option should be voted in the Senate and signed by Biden.
Sumer also expects a bipartisan law on infrastructure and a bill on climate and social spending to the Democratic Party to be adopted before the senators go to the summer holidays that begin in the second week of August.
The draft law on financing the control of climate change and social initiatives is $ 3.5 trillion. Democrats will seek to accept without the support of Republicans.
In the administration, Bayden believes that these enormous remedies will help create jobs in the United States, restore the economy and reconstruct vital infrastructure facilities. In the White House, they stated that investments would generate an average of 2 million jobs per year as part of a long-term program.
Budget money will go on the roads, bridges, public transport, airports, water channels, infrastructure for charging electric vehicles, electric buses, and transportation.
$ 73 billion will translate the United States from fossil fuels to clean energy and $ 65 billion on broadband Internet infrastructure.
These record injections in the economy will give a significant stimulus to grow, affecting the companies of several spheres. The stock market can continue to grow at even higher rates.
Economists and finance experts are concerned about inflation risks in the United States since inflation has shown a record growth of 5% in May and 5.4% in June.
The White House intends to receive funding for these major programs at the expense of unspent funds to assist with COVID-19, increase corporate taxes from 21% to 28%, and strengthen tax legislation against cryptocurrency.
