US Senate Infrastructure Bill To Boost Revenue By Over $51Bln - Taxation Committee

US Senate Infrastructure Bill to Boost Revenue by Over $51Bln - Taxation Committee

WASHINGTON (UrduPoint News / Sputnik - 02nd August, 2021) The US Senate's bipartisan bill on infrastructure could add just over $51 billion to national coffers over the next decade, the Joint Committee on Taxation said in a research paper issued Monday.

Estimated revenue effects of the provisions from the infrastructure could add a total of $51.06 billion to Federal revenue, the committee, a nonpartisan research arm of the US Congress, said in the paper.

The bipartisan infrastructure plan eyes $550 billion in new spending on the nation's physical infrastructure that includes $110 billion for roads, bridges and major projects, $39 billion for public transit and $66 billion for railways.

It also calls for $65 billion for broadband infrastructure deployment and $55 billion for clean water investments. The proposal would be financed through unspent COVID-19 relief funds, targeted corporate user fees and strengthened tax enforcement regarding cryptocurrencies, according to the White House.