Bipartisan infrastructure bill nears finish line as Senate sets up filibuster vote | Fox Business

Name: CBO estimates infrastructure bill would increase national debt by $256B
Uploaded: 2021-08-05T20:54:28-04:00
Duration: 3 min 2 s
Description: Tennessee Republican Bill Hagerty weighs in on the Democrats spending spree on 'The Evening Edit'

CBO estimates infrastructure bill would increase national debt by $256B

Tennessee Republican Bill Hagerty weighs in on the Democrats spending spree on 'The Evening Edit'

Senate Majority Leader Chuck Schumer, D-NY, filed two motions to invoke cloture on the bipartisan infrastructure bill on Thursday night, setting up a likely vote this weekend on the sweeping deal backed by President Biden.

Schumer’s move to file cloture would give senators an "intervening day" on Friday. The Senate would then conduct a procedural vote on Saturday to break the filibuster and end debate on a final version of the bill.

The vote to break the filibuster requires 60 yays to pass. From there, the Senate could move to consider a final version of the infrastructure bill, which could pass by as soon as late Saturday or Sunday.

INFRASTRUCTURE DEAL TO ADD $256B TO DEFICIT, CBO SAYS

"If we come to an agreement yet tonight, which is our preference, we will have additional votes on amendments," Schumer said on the Senate floor. "I believe we’re very close to an agreement and see no reason why we can’t complete this important bipartisan bill."

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Negotiated by a bipartisan group of senators led by Republican Rob Portman of Ohio and Democrat Kyrsten Sinema of Arizona, the proposal includes $550 billion in new spending on physical infrastructure projects.

The Biden administration has spent months attempting to sway GOP senators to approve a deal in what is a key legislative priority for the president.

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The Congressional Budget Office projected the bill’s passage would add more than $250 billion to the federal deficit over a 10-year period. Some Republican lawmakers indicated they wanted time to go over the CBO’s estimates before advancing the bill to a vote.

Fox News' Chad Pergram contributed to this report.