Washington – Business Roundtable today released the following statements after the group of Democratic and Republican Senators working on the bipartisan infrastructure framework reached an agreement on the contours of a bipartisan bill and ahead of an expected cloture vote:
“Business Roundtable applauds the bipartisan group of Senators and the White House for their leadership on and commitment to reaching an agreement on how to proceed in crafting a bill both sides of the aisle can support—a critical step toward unleashing historic investment in our nation’s physical infrastructure,” said Business Roundtable President & CEO Joshua Bolten. “We look forward to reviewing the details of the deal reached today and call on the Senate to invoke cloture this evening and build on this momentum by passing a bipartisan infrastructure bill in August.”
“We urge Congress to send a bipartisan infrastructure bill to President Biden’s desk,” said Brendan Bechtel, Chairman and CEO of Bechtel Group, Inc., and Chair of the Business Roundtable Infrastructure Committee. “It cannot be overstated how important it is for Congress to seize this once-in-a-generation opportunity to invest in the backbone of America, our infrastructure. Taken together, the investments detailed in the bipartisan package would improve the lives of all Americans and elevate the United States to a new level of global competitiveness. Our economy will not only benefit in the near term from a significant infrastructure upgrade but also long term from sustained growth.”
According to a recent Business Roundtable study, each dollar of a $1 trillion infrastructure investment would yield nearly $4 in U.S. economic growth over 20 years. The study also found that an investment of this size and scope would increase the average American household’s disposable income by $1,800 every year for 20 years, create 1.2 million new jobs and boost wage growth.
Enactment of bipartisan infrastructure legislation is a top priority for Business Roundtable. Earlier this summer, the Roundtable launched a multimillion-dollar campaign to advocate for significant bipartisan infrastructure investment, featuring radio, print and digital ads in over 50 media markets across the country. Along with the U.S. Chamber of Commerce, the National Association of Manufacturers, AFL-CIO, the National Retail Federation, the Bipartisan Policy Center, North America’s Building Trades Unions, and over 20 additional leading business and labor organizations, Business Roundtable is also a founding member of the Coalition for Bipartisan Infrastructure Investment.