Biden "Agreement Reached on Infrastructure Investment Plan Deal"

President Joe Biden is speaking after discussing infrastructure investment with bipartisan lawmakers at the White House.
[Photo by Reuters]

[Asia Economy New York=Correspondent Baek Jong-min] U.S. President Joe Biden and bipartisan lawmakers from both the Democratic and Republican parties have agreed on a $1 trillion infrastructure investment. The agreement is reported to amount to $940 billion over the next five years and $1.2 trillion over eight years.

On the 24th (local time), according to U.S. media, President Biden told reporters after a meeting with senators, "We had a good meeting. We agreed on a deal."

President Biden added, "No one got everything they wanted. They (the lawmakers) gave more than I expected."

According to sources, the agreement includes a new federal government burden of $579 billion and is expected to total $1.2 trillion over the next eight years.

Bipartisan lawmakers from both the Democratic and Republican parties reportedly reached a de facto agreement on the scale of infrastructure investment with the White House a day earlier.

Accordingly, President Biden held an unplanned meeting with lawmakers at the White House that morning.

CNN reported that although obstacles remain, such as the consent of progressive lawmakers within the Republican and Democratic parties, the very fact that an agreement was reached holds significant political meaning for President Biden.