LEGISLATIVE DEVELOPMENTS
Government Infrastructure and Tax Legislation Update
Congress continues to work on two separate spending and tax plans:
- H.R.3684 – Infrastructure Investment and Jobs Act (link) is a bi-partisan infrastructure bill scored at $1.2 trillion. It passed in the Senate on August 10. The House was expected to vote on it on September 30, however, that vote was postponed late last night as Democrats continue to try to align progressive and moderate factions in the House to obtain support for both plans.
- Build Back Better Act is a $3.5 trillion plan that Democrats will seek to pass through a budget reconciliation process without any Republican support.