Infrastructure

The Senate voted Wednesday evening to move forward with a $1.2 trillion package to rebuild the nation's crumbling infrastructure after months of painstaking negotiations between a bipartisan group of senators and the White House on one of President Biden's top economic goals.

Progressive congresswomen Rep. Alexandria Ocasio-Cortez and Rep. Rashida Tlaib slammed Democratic Senator Kyrsten Sinema after the senator announced she will not support a $3.5 trillion infrastructure plan.

The infrastructure deal agreed upon by lawmakers and President Biden on Wednesday includes a crackdown on cryptocurrencies as one way to raise revenue to support spending.

"This deal makes key investments to put people to work all across the country—in cities, small towns, rural communities, and across our coastlines and plains," President Biden said in a statement. "The Bipartisan Infrastructure Deal is a blue-collar blueprint to rebuild America that will help make our historic economic recovery a historic long-term boom."

The Senate may vote to advance a bipartisan infrastructure package as early as Wednesday evening, Majority Leader Chuck Schumer said, after negotiators resolving major outstanding issues on the roughly $1.2 trillion deal.

President Biden on Wednesday is set to sign a national security memorandum to protect critical infrastructure such as electricity utility companies, chemical plants and nuclear reactors.

A bipartisan group of lawmakers is racing to finalize a long-sought infrastructure agreement this week as they attempt to reconcile key differences that could imperil the roughly $1.2 trillion deal.

Economist Stephen Moore discusses the Democrats’ massive spending bills and the impact on the U.S. economy.

A bipartisan infrastructure bill is almost complete and ready for consideration by the Senate, according to updates provided by several of the key players involved.