Legislative update: Senate approves infrastructure bill, including tax provisions

H.R. 3684, the “Infrastructure Investment and Jobs Act,” as amended, was approved by U.S. Senate

Senate approves infrastructure bill, including tax provisions

The U.S. Senate today approved H.R. 3684, the “Infrastructure Investment and Jobs Act,” as amended, by a bipartisan vote of 69-30.

The Senate on August 1, 2021, released legislative text of the bill (a 2,702-page bipartisan infrastructure bill) that included tax provisions. Read about those tax measures in TaxNewsFlash.

The Senate-approved bill reflects the adoption of a Senate amendment in the nature of a substitute to a highway bill that the House previously passed.  The amendment was being offered by Senators Sinema (D-AZ), Portman (R-OH), Manchin (D-WV), Cassidy (R-LA), Shaheen (D-NH), Collins (R-ME), Tester (D-MT), Murkowski (R-AK), Warner (D-VA), and Romney (R-UT).

What’s next?

The bill will be reported back to the House with the Senate language substituted for the House-passed version of H.R. 3684, which had been approved by the House on July 1, 2021. 

As the House and Senate have passed different versions of the bill, further consideration will be required before the bill may be sent to President Biden for his possible signature because both legislative bodies ultimately need to agree on the same version of the legislation.  The House might be expected to readdress the legislation at some time in the fall.  Speaker Pelosi previously indicated that the House would consider bipartisan infrastructure legislation at the same time as it addresses separate legislation concerning other Democratic policy priorities through the budget reconciliation process.

 

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