Biden signs trillion-dollar infrastructure bill

　　China News Agency, Washington, November 15 (Reporter Chen Mengtong) US President Biden signed the "Infrastructure Investment and Employment Bill" at the White House on the 15th with a total of approximately US$1 trillion.

He said that the implementation of the bill would "make the United States move forward again."

　　This bill is another major economic agenda that Biden has tried to advance since he took office after the epidemic relief bill, and it is also one of his campaign promises.

However, due to differences within the party and Republican obstruction, the investment scale of the bill has shrunk significantly from the original $2.25 trillion.

Data map: US President Biden.

　　The White House held a high-level bill signing ceremony in the afternoon.

Hundreds of people including US Vice President Harris, Speaker of the House of Representatives Pelosi, Senate Majority Leader Schumer, Democratic congressional leaders and heads of labor organizations attended the event.

　　"This bill will rebuild America's bridges, water supply, and power systems, and make our dams stronger," Biden said at the ceremony. The bill fulfilled a "late promise", that is, creating for millions of Americans. Better employment opportunities.

　　After the bill comes into effect, it will provide funding for existing U.S. federal public works projects, and at the same time, add about $550 billion in additional investment within 5 years to build roads, bridges and other transportation infrastructure, update and improve water supply systems, power grids, and broadband networks, etc. .

　　In August of this year, the US Senate passed the bill first.

Since then, due to some Democrats trying to "bundle" it with the new fiscal year spending bill, the bill was shelved in the House of Representatives until it was passed in early November.

　　The Associated Press pointed out that in the case of increasing domestic inflation, weak economic recovery, and the stalemate of the new crown epidemic situation, Biden urgently needs to use the infrastructure bill to boost its approval rate.

On November 9, 2021 local time, in Seattle, Washington, USA, the city ushered in a strong storm and the city facilities were damaged.

　　Biden also said that the conclusion of this bill shows that the Democrats and Republicans can unite and achieve results.

"With this bill, we can focus on getting things done. In my opinion, the only way to move our country forward is through compromise and consensus."

　　Although this bill is regarded as a "historic investment" by the White House, it will give the United States a new look in the next 10 years.

However, the new expenditures in the bill will be realized in stages over the next five years, and there are uncertainties in its implementation at the state level.

　　According to estimates by the U.S. Congressional Budget Office, this infrastructure bill will increase the federal budget deficit by approximately $256 billion in the next 10 years.

　　In the next few days, promoting this bill will become the focus of Biden's itinerary.

He will go to New Hampshire on the 16th to inspect a bridge that is in urgent need of repair.

On the 17th, he plans to go to Detroit to visit General Motors' electric car production line.

(over)