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Tax Provisions in the Senate Infrastructure Investment and Jobs Bill

Carla Medrano

After months of negotiation, the Senate passed a massive infrastructure bill with total costs exceeding $1 trillion dollars over five years, with $550 billion representing new spending. 

Federal spending to upgrade infrastructure has historically had bipartisan support; however, disagreements over the total cost of any package and if or how to pay for it have tied it up in Congress for years. The Infrastructure Investment and Jobs bill generally limits infrastructure spending to traditional infrastructure such as roads, bridges, water, power, and mass transit but also funds broadband expansion. 

On September 21st, the House Democrats passed a reconciliation bill and advanced the $1 trillion bipartisan infrastructure bill. The social policy reconciliation bill crafted by the House Democrats contains  $3.5 trillion in spending that focuses on energy efficiency, clean energy, housing, childcare, care for the elderly, climate change, and extended tax breaks for lower- and middle-income taxpayers. 

It’s still too early to tell what tax changes could pass both houses of Congress, or if both pieces of legislation will move forward given the Democratic infighting. Speaker Pelosi has committed to passing the infrastructure bill by September 27th and is pushing to pass both measures at the same time. Many Republicans support the $1 trillion infrastructure bill but oppose the $3.5 trillion bill given the tax hikes on businesses and the wealthy. 

By the time that this column is read, some of these issues may be resolved.

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