US Senate Infrastructure Bill to Boost Revenue by Over $51Bln, Taxation Committee Says
WASHINGTON (Sputnik) - 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.