Biden signs $1.2 trillion infrastructure bill into law, hailing bipartisan breakthrough – EQ Mag Pro
Washington : President Biden signed his $1.2 trillion infrastructure bill into law on Monday, delivering on a major campaign promise that aims to revitalize the nation’s roads, bridges, waterways and public transit. On Monday night, Mr. Biden then had his first face-to-face meeting with Chinese President Xi Jinping, a meeting he said he hoped would be “candid.”
“We have a responsibility to the world as well as to our people,” Mr. Biden said. “It’s why we believe, and you and I have talked about this, all countries have to play by the same rules of the road, why the United States is always going to stand up for our interests and values and those of our partners.”
Xi, through a translator, said he was happy to see his old friend. “China and the United States should respect each other, coexist in peace, and pursue win-win cooperation,” Xi said.
Earlier Monday in a South Lawn ceremony flanked by a bipartisan group of lawmakers, governors, mayors and business and union leaders, Mr. Biden signed the long-awaited infrastructure bill.
“The world has changed, and we have to be ready. My fellow Americans, today I want you to know, we hear you and we see you,” the president said on the White House South Lawn before signing the legislation. “The bill I’m about to sign into law is proof that despite the cynics, Democrats and Republicans can come together and deliver results. We can do this. We can deliver real results for real people.”
Formally known as the Infrastructure Investment and Jobs Act, the law includes $550 billion in new spending on the nation’s physical infrastructure and represents the largest investment in roads, bridges, ports, water and rail in years. The measure provides $110 billion for roads, bridges and major projects, $39 billion for public transit and $66 billion for railways. It also provides $65 billion to expand broadband infrastructure and $55 billion for clear water investments.
“Today, we’re finally getting this done. So my message to the American people is this: America is moving again, and your life is going to change for the better,” Mr. Biden said.
Mr. Biden earlier signed an executive order establishing a task force to lead the coordination and implementation of the law. The task force will be led by Mitch Landrieu, the former mayor of New Orleans.
Meanwhile, the Congressional Budget Office (CBO) said it would release a final estimate on the cost of Mr. Biden’s second signature piece of legislation, the Build Back Better Act, by Friday. While Democratic leaders and progressives had hoped to vote on the social spending package and the infrastructure bill together, the plan fell apart when moderates said they wanted to wait for the CBO score before voting. The CBO score is necessary before any Senate vote on Build Back Better due to budget reconciliation rules.
Democrats will only need a simple majority to pass Build Back Better in the Senate, but since no Republicans are expected to support it, all 50 Democrats will need to vote for it.
Source: cbsnews
