Democratic leaders are continuing to pursue a dual track process for passing infrastructure legislation, including both a bipartisan infrastructure bill with $550 billion in new spending focused on roads, bridges, and broadband and a Democrat-only reconciliation bill, which we expect to include affordable housing infrastructure priorities. Last week, congressional negotiators working on the bipartisan bill came to an agreement on the details, and the Senate passed a procedural vote to begin consideration of the legislation.
The Senate is expected to continue its consideration of the bipartisan bill and also take up the fiscal year (FY) 2022 budget resolution—a necessary step towards the Democratic only reconciliation legislation—before it leaves Washington for the August recess. If both chambers are able to pass the budget resolution, this fall Congress will work on legislation that includes housing and other Democratic priorities that would be able to pass under reconciliation protection, allowing for Senate passage with a simple majority. This reconciliation process generally limits legislation to provisions that have an impact on the budget, either costing or saving money, and requires offsets if provisions add costs outside the ten-year budget window. The bipartisan infrastructure bill and reconciliation plans are expected to move together, and Enterprise will continue to elevate our housing priorities in these infrastructure discussions.