“The bipartisan group of senators has finished writing the text of the infrastructure bill,” the New York Democrat said, “and in a moment I will take the procedural steps to make their legislative language the basis of the bill.” “
Now that the text is complete, Schumer introduced it as a substitute amendment, making it the basis for a bipartisan infrastructure bill. This allows the Senate to begin what could be a day-long amendment process. Schumer said on the floor that “how bipartisan the bill is,” he believes “the Senate can process the relevant amendments quickly and pass this bill in a matter of days.”
After announcing that the bipartisan infrastructure bill text had been finalized, Schumer cited the group’s efforts, saying that “it’s not easy to do major bills in the Senate these days, especially bipartisan ones.”
“It’s been decades, decades, since Congress passed such an important standalone investment and I salute the hard work put in by everyone here,” he said.
More than half of the bill — $550 billion — involves new federal funding to be spent over five years. That’s $73 billion to rebuild the electric grid, $66 billion to passenger and freight rail, $65 billion to expand broadband Internet access, $55 billion to water infrastructure, $40 to fix bridges. billion, invests between $39 billion and $7.5 billion to modernize public transportation such as buses. Build the first federal network of charging stations for electric vehicles.
Schumer also reiterated his two-track strategy goal of passing both the bipartisan infrastructure bill and the budget proposal before the August recess.
“A bipartisan infrastructure bill is certainly necessary, but for many of us it is not enough,” he said in his floor remarks. “So soon after this bill is passed, Senate Democrats will move forward with a budget proposal to allow the Senate to make more historically significant investments.”
Members of the bipartisan group spoke on the Senate floor ahead of the anticipated announcement Sunday night.
“We know this has been a long and sometimes difficult process, but we are proud to announce this legislation this evening,” said Arizona Democratic Sen. Kirsten Cinema, a key negotiator.
“This process of starting from the center has worked,” said Sen. Rob Portman, a Republican from Ohio and another key negotiator.
The group has been working on the legislation for months, a deal reached last week between Democrats and Republicans on key issues over a $1.2 trillion infrastructure proposal.
This story has been updated with additional information.
CNN’s Kristin Wilson and Lauren Fox contributed to this report.