The $1 Trillion Infrastructure Package
After weeks of negotiations, and with broad bipartisan support, the Senate is expected to pass a $1 trillion infrastructure package today.
How will some of the proposed $1 trillion be spent? Lets break it down:
1) ~$110 billion towards roads and bridges
2) ~$66 billion towards rail (heavy and light)
3) ~$40 billion to transit
4) ~$70 billion to broadband to provide low income households access to better internet service
5) ~$65 billion allocated to improving energy production
6) ~$50 billion towards fighting natural disasters and cyberattacks
Where will the funds come from? Historically, infrastructure funds came from federal gas taxes and tolls. With the White House ruling this out, and Republican's ruling out an increase in corporate taxes, a repurposing of Covid-19 funds and tracking crypto asset transactions will be implemented to reduce the overall cost.
We will continue to monitor any developments relating to the infrastructure deal out of Washington as we move closer to the September 30 fiscal year end.
Lets make it a great day!!