“The bipartisan group of senators has finished drafting the text of the infrastructure bill,” said the New York Democrat. “And in a moment, I will take the procedural steps to make their legislative language the basis of the bill here on the floor.” “
Now that the text is complete, Schumer submitted it as a substitute amendment, making it the basis of the bipartisan infrastructure bill. This allows the Senate to begin what could be a multi-day amendment process. Schumer told the hearing that given “how bipartisan the bill is,” he believes “the Senate can deal with the relevant amendments quickly and pass this bill within days.”
After announcing that the text of the bipartisan infrastructure bill had been finalized, Schumer praised the group’s efforts, saying that “these days it is not easy to make major bills in the Senate, in especially bipartite projects ”.
More than half of the bill – $ 550 billion – includes new federal funds to be spent over five years. It is investing $ 73 billion to rebuild the power grid, $ 66 billion for passenger and freight rail transport, $ 65 billion to expand broadband Internet access, $ 55 billion for water infrastructure, 40 billion dollars to repair bridges, 39 billion dollars to modernize public transport like buses and 7.5 billion dollars to create the first federal network of charging stations for electric vehicles.
Schumer also reiterated his two-track strategic goal of passing both the bipartisan infrastructure bill and a budget resolution before the August recess.
“A bipartisan infrastructure bill is certainly necessary, but for many of us it is not enough,” he said in his remarks on the ground. “That is why shortly after this bill is passed, Senate Democrats will introduce a budget resolution to allow the Senate to make other critically important historic investments.” ”
Members of the bipartisan group spoke in the Senate ahead of the announcement scheduled for Sunday evening.
“We know it has been a long and sometimes difficult process, but we are proud to announce this legislation tonight,” said Arizona Democratic Senator Kyrsten Sinema, chief negotiator.
“This process of going out of the center has worked,” added Sen. Rob Portman, an Ohio Republican and another key negotiator.
The group has been working on this legislation for months, with an agreement finally reached on key issues between Democrats and Republicans on a $ 1.2 trillion infrastructure proposal last week.
This story has been updated with additional information.
CNN’s Kristin Wilson and Lauren Fox contributed to this report.