WASHINGTON—President Biden and a group of centrist senators agreed to a roughly $1 trillion infrastructure plan, securing a long-sought bipartisan deal on overhauling the nation’s transportation, water and broadband infrastructure that lawmakers and the White House will now attempt to shepherd through a closely-divided Capitol Hill.
“We had a really good meeting and to answer the direct question, we have a deal,” Mr. Biden told reporters at the White House. “We’ve all agreed that none of us got what we all would have wanted.”
“I clearly didn’t get all I wanted. They gave more than I think they were maybe inclined to give in the first place,” he added.
Drafts of the agreement had called for $579 billion of spending above expected federal levels, totaling $973 billion over five years and $1.2 trillion if continued over eight. The lawmakers had discussed financing the package with a mix of public-private partnerships, existing federal funds, and revenue collected from enhanced enforcement at the Internal Revenue Service.
Lawmakers had said Wednesday that they reached an agreement on an overall framework for a deal, with some details still to be worked out, pending Mr. Biden’s agreement.
