{"id":134756,"date":"2021-08-07T21:23:09","date_gmt":"2021-08-07T21:23:09","guid":{"rendered":"https:\/\/precoinnews.com\/?p=134756"},"modified":"2021-08-07T21:23:09","modified_gmt":"2021-08-07T21:23:09","slug":"u-s-senate-meets-on-saturday-to-consider-1-trillion-infrastructure-bill","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/u-s-senate-meets-on-saturday-to-consider-1-trillion-infrastructure-bill\/","title":{"rendered":"U.S. Senate meets on Saturday to consider $1 trillion infrastructure bill"},"content":{"rendered":"<ul>\n<li>If the vote succeeds, Senate Majority Leader Chuck Schumer will try to move quickly to pass the bill, in what would be a major victory for President Joe Biden and a bipartisan group of senators who spent months crafting the package.<\/li>\n<li>After hours of closed-door negotiations, senators were unable to reach agreement on Thursday on a final batch of amendments.<\/li>\n<li>Progress has been held up by a flurry of disagreements over demands for new Defense Department improvements and a bill provision on cryptocurrency.<\/li>\n<\/ul>\n<p>The U.S. Senate will meet for the second weekend in a row on Saturday in hopes of passing a $1 trillion infrastructure bill that has struggled to overcome a series of last-minute delays and objections, despite strong bipartisan support.<\/p>\n<p>The\u00a0package, which represents the biggest investment in decades in America&#x27;s physical infrastructure including roads, bridges, airports and waterways, will face a key test at noon EDT (1600 GMT), when lawmakers are due to vote on whether to limit debate on the legislation.<\/p>\n<p>If the vote succeeds, Senate Majority Leader Chuck Schumer will try to move quickly to pass the bill, in what would be a major victory for President Joe Biden and a bipartisan group of senators who spent months crafting the package.<\/p>\n<p>After hours of closed-door negotiations, senators were unable to reach agreement on Thursday on a final batch of amendments before many lawmakers left town to attend the funeral on Friday of former Senator Mike Enzi in Wyoming. Twenty-two amendments have already been debated.<\/p>\n<p>Negotiations were continuing, according to a person familiar with the talks. Unless all 100 senators consent to waive rules governing the legislative process, the Senate will have to pursue a series of procedural votes that could delay passage until as late as Monday or Tuesday.<\/p>\n<p>Progress has been held up by a flurry of disagreements over demands for new Defense Department improvements and a bill provision on cryptocurrency.<\/p>\n<p>&quot;It&#x27;s just the way this place works. People want their amendments to be voted on, and when they can&#x27;t get them voted on because one side or the other objects, then they hold up everybody else,&quot; Senator Rob Portman, the lead Republican negotiator, told reporters on Friday.<\/p>\n<p>Senator Bill Hagerty, who was former President Donald Trump&#x27;s ambassador to Japan before replacing former Senator Lamar Alexander, also balked after the nonpartisan Congressional Budget Office said on Thursday that the legislation would increase federal budget deficits by $256 billion over 10 years.<\/p>\n<p>The\u00a0CBO analysis\u00a0did not include $57 billion in added revenue that senators estimate Washington would collect over the long term from the economic growth benefits of infrastructure projects. It also did not count $53 billion in unused federal supplemental unemployment funds to be returned from states.<\/p>\n<p>So far, the current bill has attracted backing from enough Republicans to comfortably surpass the Senate&#x27;s 60-vote threshold, along with unanimous support from the chamber&#x27;s 50 Democrats.<\/p>\n<p>But the legislation is still opposed by most of the Senate&#x27;s 50 Republicans and by Trump, who has regularly blasted moderate Republicans and Senate Minority Leader Mitch McConnell over their support.<\/p>\n<p>Trump made infrastructure spending a key plank of his 2016 presidential campaign but never made it a priority once he got into office and was unable to get legislation through Congress.<\/p>\n<p>Some top Republicans believe Saturday&#x27;s vote on whether to limit debate could be a turning point.<\/p>\n<p>&quot;There&#x27;ll be a point at which everything becomes more fluid, and I think after the (procedural) vote on Saturday, that&#x27;ll be one of those formative moments,&quot; Senator John Thune, the chamber&#x27;s No. 2 Republican, told reporters on Friday.<\/p>\n<p>&quot;Then we&#x27;ll see from there kind of what people&#x27;s appetite is to stay on the bill.&quot;<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/08\/07\/us-senate-meets-saturday-to-consider-1-trillion-infrastructure-bill.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If the vote succeeds, Senate Majority Leader<\/p>\n","protected":false},"author":3,"featured_media":134755,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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