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DETAILS OF INFRASTRUCTURE SPENDING BILL COMPROMISE EMERGE
Agri-Pulse reports:

A bipartisan infrastructure deal that President Joe Biden is endorsing would provide a dramatic increase in spending for rural broadband while also pouring new money into roads and bridges and U.S. waterway improvements.

According to a "White House fact sheet, the agreement calls for $579 billion in new spending. Of that, $45 billion is earmarked for broadband expansion. Another $110 billion is designated for roads and bridges, $16.3 billion for ports and waterways, and $5 billion for Western water storage.

The president of the American Soybean Association, Kevin Scott, welcomed the agreement: "ASA has long championed many of the investments in this package, including ports, waterways, highways and bridges, and broadband." He noted there are no tax increases to fund the deal, including no change to stepped-up basis.

Also in the deal: $15 billion is earmarked for electric vehicle infrastructure and electric buses. The White House says that's enough money to fund the 500,000 EV charging stations Biden wants.

Caution from the right: Progressives are insisting that Congress pass a separate reconciliation bill with additional spending. But Brian Riedl, a senior fellow with the conservative Manhattan Institute, says "Republicans would be idiotic" to back the infrastructure deal "without an ironclad assurance" that there won't be a reconciliation bill with spending that the GOP kept out of this agreement.


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