CONGRESS

Senate Finishes Text of Bipartisan Infrastructure Bill After Rare Weekend Session

Stefani Reynolds | Bloomberg | Getty Images
  • The U.S. Senate on Sunday finalized the text of its $1 trillion bipartisan infrastructure bill. The legislation will next be introduced to the Senate.
  • The text for the Infrastructure Investment and Jobs Act — a top legislative priority for President Joe Biden — was more than 2,700-pages.
  • The bill includes $550 billion in new spending over five years to build roads and electric vehicle charging stations, as well as replace lead water pipes.

The U.S. Senate on Sunday finalized the text of its $1 trillion bipartisan infrastructure bill. The legislation will next be introduced to the Senate.

The text for the Infrastructure Investment and Jobs Act — a top legislative priority for President Joe Biden — was more than 2,700-pages.

The bill includes $550 billion in new spending over five years to build roads and electric vehicle charging stations, as well as replace lead water pipes. That's on top of previously approved funds of around $450 billion.

Senators were working over a rare weekend session to finish the text of the bill that will pour billions into roads, bridges, public transport, broadband, rail, water and airports.

Many Democrats including Senate Majority Leader Chuck Schumer and House of Representatives Speaker Nancy Pelosi want to pass the infrastructure bill alongside the much larger $3.5 trillion budget reconciliation package.

Schumer said on Sunday it is his "two-track" strategy.

"We've remained firmly on track to achieve our two-track goal," said Schumer. "The idea here is to produce an outcome. A real, bipartisan agreement that provides a significant down payment towards the level of infrastructure investment our country needs."

Schumer will now offer the finalized text as a substitute amendment and then the Senate start voting on additional amendments.

"Given the thoroughly bipartisan nature of the bill, I expect we will be able to consider all the relevant amendments and finish the bill in a matter of days," said Schumer.

"After the bipartisan infrastructure legislation passes this chamber, I will immediately move to the other track: passing a budget resolution with reconciliation instructions, which will allow the Senate to make historic investments in American jobs, American families, and efforts to reverse climate change."

Sunday's development was a culmination of months of negotiations between several groups of senators and the White House. Biden initially sought more than $2 trillion for an infrastructure and economic recovery package — but Republicans criticized the scope and cost of the plan.

— CNBC's Yen Nee Lee contributed to this report.

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