Lawmakers Pass $1.5 Trillion Infrastructure Bill; PPP Deadline Extended

House lawmakers last week passed the INVEST in America Act (H.R. 2), a $1.5 trillion infrastructure bill that has been a key priority for Democrats since 2018. However, the bill advanced on a mostly party-line vote – with only a handful of members on either side breaking ranks – suggesting its prospects in the Republican-controlled Senate are likely dim. 

The chamber’s Majority Leader, Sen. Mitch McConnell (R-KY), later confirmed that sentiment, saying: “This so-called infrastructure bill would siphon billions in funding from actual infrastructure to funnel into climate change policies… It will just join the list of absurd House proposals that were only drawn up to show fealty to the radical left.” 

This week, the House will debate its annual appropriations bills, which dictate spending levels for federal agencies and programs. House Majority Leader Steny Hoyer (D-MD) said he wants to pass all 12 bills for the 2021 fiscal year by the end of the month. 

Separately, over the weekend, President Donald Trump signed into law legislation extending the deadline for businesses to apply for loans under the Paycheck Protection Program. The original deadline was June 30, but with $130 billion left unclaimed as of last week, Congress moved quickly to give firms more time to access the funds. Businesses now have until Aug. 8 to apply.