US Senate OKs $1T Infrastructure Bill, Includes Funds For EV Charging Network

The $1 trillion Senate-approved, bipartisan infrastructure bill will help to improve the nation’s internet services, roads, bridges, pipes and ports, a Washington Post report says.

The bill prompts a new surge in spending after years of attempts that sputtered out.

The bill was passed 69 to 30 and came after weeks of fiery debates between politicians over the sprawling package. The proposal will still have to clear the House. But the Washington Post notes that some Democrats have said the proposal falls short.

The bill proposes $110 billion to repair and replace roads, bridges and highways, and will also come with $55 billion to address issues in the U.S. water supply, with work to replace every lead pipe in the nation. And it will work to rehabilitate waterways, modernize the U.S. power grid, expand broadband internet service, improve airports and more.

In addition, lawmakers also approved funding to work on the environment and the encroaching catastrophes of the fast-warming planet, with $7.5 billion allotted to build a national network of electric vehicle charging stations, along with $47 billion to respond to wildfires, droughts, coastal erosion, heat waves and more.

The process to clear the bill has been a long one, with weeks of haggling and pressure applied by Chuck Schumer, and what eventually came out was a 2,702-page bill that still saw lawmakers arguing over things like transit and broadband and how the money should be spent.

The bill also reportedly saw at least small wins for cryptocurrency lobbyists. The bill will now cut back on a bit of the mandate which was foisted upon the sector.

See more: Crypto Lobbying Efforts Get Small Win In Infrastructure Bill

Last-minute additions to the bill worked to increase scrutiny on the crypto sector and subject traders to the kinds of IRS rules that are put on stock and bond brokers.

But lobbyists for crypto were able to revise the language, and now the phrasing is a different definition defining brokers as those “responsible for regularly providing any service effectuating transfers of digital assets on behalf of another person,” in light of the crypto industry’s argument that the law should not apply to people like miners, creators, or “node operators,” according to reports.