US House Approves $715 Bln Infrastructure Bill

The U.S. House of Representatives approved on Thursday a $715 billion transportation and water infrastructure bill.

The bill includes provisions from President Joe Biden's initial $2.3 trillion infrastructure proposal, authorizing additional spending for  roads, bridges, highway safety, electric vehicle charging stations, rail, transit, waste and sanitation infrastructure.

It also funds programs that would provide money for major projects, including an $11.6 billion plan to connect New Jersey and New York's Penn Station in midtown Manhattan via four modern transmission pipelines under the Hudson River.

The 221-201 Republican vote win sends the bill to the Democratic-led Senate.

The new plan includes $621 billion for transportation projects, $111 billion for water infrastructure and $100 billion for broadband.

In March, the White House said in a statement that Biden’s infrastructure plan will invest about 1% of GDP annually over 8 years to modernize the country’s infrastructure, revitalize manufacturing, invest in research, support supply chains, and anchor the care infrastructure.

The investments will provide Americans job opportunities and will pay off for future generations by making the country more competitive.