Infrastructure agreement on major issues reached by bipartisan group of Senators – WSJ

After weeks of intense talks and multiple rejections, the US policymakers are confident of getting President Joe Biden backed infrastructure spending plan passed through the Senate.

“Negotiators of roughly $1 trillion package are confident they have locked down enough Republican and Democratic support to advance bill later Wednesday,” said Wall Street Journal (WSJ).

Following the news, Bloomberg’s Erik Wasson tweeted that Senator Bernie Sanders said he will have 50 votes for his budget resolution to start reconciliation next week. He will vote to start a debate on infrastructure.

Market reaction

The news helps S&P 500 Futures to reject the bears’ entry despite the downbeat closing on Wall Street. It should be noted, however, that the investors already forecasted the event and the same has multiple speed-breakers ahead, which in turn restricted the market reaction to the key news.