The Economic Action Partnership’s “Economic Stimulus Package” is expected to provide a $2 trillion boost to the U.S. economy, with nearly half of the funding to be spent on infrastructure projects and other economic initiatives.
But lawmakers have not yet approved the bill.
As part of the package, the U to pay $30 billion to the states for the next three years in infrastructure spending and to provide $15 billion in stimulus to the energy industry.
The bill also calls for a $15-billion increase in direct spending by the Department of Housing and Urban Development.
The Economic Action Package, which passed the House and Senate last week, would fund a variety of programs including an infrastructure tax credit, grants to help homeowners refinance mortgages and a tax credit for homebuyers.
It also provides $50 billion in aid for schools and states in need of funding.
President Donald Trump is expected Friday to sign the bill into law.
It would be the first stimulus package to be approved by Congress.
“The stimulus package is an important step toward providing the economic recovery the American people deserve, while continuing to stimulate our economy and help grow our economy,” said Rep. Paul Ryan, R-Wis.
“It is a major victory for American families and the American economy and we’re confident that we can get it through Congress this week.”
Rep. John Larson, D-N.Y., said the bill would help boost the U’s economy.
“It is going to put millions of Americans back to work and create more jobs,” Larson said.
“The economic recovery is the key to a stable economy, so we have to make sure it’s all positive and we need to get that economy going.”
Democrats, who control both chambers of Congress, say the bill will boost the economy and give more money to states to boost their economies.
They say the money will help them with their efforts to pass more tax cuts.
Democrats in the House have also been pushing the legislation as part of their push for more spending on infrastructure and other infrastructure projects.
House Speaker Nancy Pelosi said the package would help to boost the American recovery.
“This is about giving states the resources to invest in infrastructure that can create jobs, grow the economy, and create the jobs that are needed to help Americans get back to a healthy, thriving economy,” Pelosi said.