A growing bipartisan group of senators and the White House negotiated over how to finance around $1 trillion on an infrastructure proposal, awaiting feedback from President Biden as Democrats initiated discussions on a separate economic package that could cost up to $6 trillion.Since negotiations between Mr. Biden and a group of Senate Republicans collapsed last week, an alternative set of republican and Democratic senators have held talks on an infrastructure plan that would spend $973 billion over five years, with $579 billion of that funding above the expected baseline levels. Initially a group of five Democrats and five Republicans, the group expanded to include 11 Republicans and 10 members of the Democratic meeting on Wednesday.According to a draft outline of the proposal, the plan would dedicate $110 billion in new spending to bridges and roads, $65 billion to expanding access to broadband, and $48.5 billion to public transit, among other priorities. Extended over an eight-year timeline, the plan would spend a total of $1.2 trillion.The draft, first acquired by Politico, also includes a number of ways to finance the package, a central issue in the talks. It proposes indexing the gas tax to inflation, increasing IRS enforcement to collect unpaid taxes, collecting an annual cost from electric vehicles, and repurposing existing federal funds. An infrastructure financing authority, public-private partnerships, and direct-pay municipal bonds are also included as possible financing mechanisms.
Published by
Ready to get started?
Start trading with the full package, from state of the art platform to free tool and favorable transaction fees.
All investments involve risks, including the possible loss of capital
ÂŠď¸ MEXEM AFRICA (PTY) LTD (MEXEM AFRICA) is an authorized financial services provider (FSP 48325). All trades on the MEXEM AFRICA platform are subject to the legal terms and conditions to which you agree to be bound.
The MEXEM AFRICA platform enables users to invest in securities. MEXEM AFRICA acts as an agent for the issuance of whole shares, where the investor is the registered owner of those shares, entitled to dividends, participation in corporate actions, and all the economic benefits and risks associated with share ownership.
The availability of any share on the MEXEM AFRICA platform is based on various factors but is not an indication of value and does not mean that any share is an appropriate investment for you. Images are for illustrative purposes only and past performance is not necessarily an indication of future performance.
â
The availability of any share on the browse shares page does not necessarily indicate any contractual relationship between MEXEM AFRICA and the listed company or the payment of fees for services. Brand logos are owned by the respective companies and not by MEXEM AFRICA. The use of a companyâs brand logo does not represent an endorsement of MEXEM AFRICA by the company, nor an endorsement of the company by MEXEM AFRICA, nor does it necessarily imply any contractual relationship. Further investment disclosures are available on the MEXEM AFRICA website.
Read our Forms & Disclosures.