Washington Watch: Here’s what’s in the bipartisan infrastructure law — and how it’s paid for

The bipartisan infrastructure bill passed the Senate in a 69-30 vote on Aug. 10, with Senate Minority Leader Mitch McConnell among the 19 Republicans who joined with the chamber’s 50 Democrats to support the long-awaited measure.

And the bill finally is close to becoming law, as it cleared the House of Representatives on Nov. 5. It just needs to get signed into law by President Joe Biden, who first announced a bipartisan deal on infrastructure

back on June 24. The White House said Biden plans to do the signing on Monday.

As Democratic-run Washington finally gets the infrastructure bill across the finish line and also works on advancing Biden’s $1.75 trillion social-spending and climate package, below is a visual breakdown for the first measure. 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.

Related: Manchin, drawing flak for holding up Biden’s agenda, says Democrats should ‘elect more liberals’ if they want bigger spending

And see: Here’s what’s in and out of Democrats’ big social-spending bill — for now

How does it all get paid for? Below is a visual breakdown of the funding sources for the infrastructure bill.

Now read: Infrastructure bill mandates new technology to prevent drunk driving — here’s how it would work

Also: These are the stocks for playing Biden’s infrastructure push, analysts say

Plus: U.S. gets C- grade on its infrastructure report card

This report was first published on Sept. 20, 2021.

MarketWatch’s Robert Schroeder contributed to this report.

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