Legislative Update

It is with considerable sadness that we at the Chamber note the passing of former board member and Government Affairs Committee chairman Dennis Rochford. Dennis was a friend, confidant, and trusted adviser to business and political leaders alike. His positive impact on our organization and our broader community were immense. He will be sorely missed.
 
Details of infrastructure package released
 
On Sunday, a bipartisan group of senators, led by Kirsten Sinema (D-Arizona) and Rob Portman (R-Ohio), released the details of the Infrastructure Investment and Jobs Act, a package that will involve $1.2 trillion in spending on roads, bridges, water and broadband infrastructure over eight years.  Senate Majority Leader Chuck Schumer (D-New York) has indicated his intention to pass the measure before the end of this week.  The 50 Senate Democrats plus the 17 Republicans who voted to start debate on the measure last week are enough to cross the 60-vote threshold for cloture and passage.
 
At the same time, the leader intends to pass a budget resolution containing the spending instructions for a $3.5 trillion package of social spending and climate action measures via the reconciliation process – a parliamentary maneuver which bypass the cloture requirement in the Senate and will allow passage by a simple majority rather than 60 votes. There is unified Republican opposition to the $3.5 trillion plan, which is why Democrats are using reconciliation. 
 
In the House Speaker Nancy Pelosi (D-California) has indicated that she will not entertain passage of the $1.2 trillion package without passage of the $3.5 trillion plan.  At this point, it appears that there are 51 votes (50 senators plus Vice President Harris) in the Senate for the $3.5 trillion package. 
 
Senator Mitch McConnell (R-Kentucky) has indicated that Senate Republicans will use the debt ceiling, the suspension of which expired on Saturday, as leverage to rein-in spending. How effective that effort is remains to be seen.