“We have a deal”, says Biden on bipartisan Senate Deal

“We have a deal,” said Biden to reporters after reaching an agreement on the bipartisan Senate deal on Thursday. The deal seeks to spend hundreds of billions of dollars on infrastructure projects that will help stimulate the economy.

The deal came after months of complex negotiations between Democrats, Republican members, lawmakers, and the White House. Ensuring a large infrastructure package has been among Biden’s prime domestic priorities.

Details of the new deal will be released later in the day. Lawmakers will keep a close eye on how the proposal pays for around $559 billion in new spending that is included in the package.

With a fine control of both chambers of Congress, the Democrats wanted to pass a bipartisan bill while pushing through another large-scale spending package against Republican opposition.

In an attempt to promote economic growth and curb income inequality, Biden had initially proposed a whopping $2.3 trillion for spending. The offer was later brought down to $1.7 trillion to win Republican support but was in vain.

The point of argument has been how these investments will be paid for, especially at a time when Biden has pledged to not increases taxes for those earning less than $400,000 a year.