Nancy Pelosi, the Speaker of the United States House of Representatives, said that the house would vote on adopting the contentious $1 trillion bipartisan infrastructure bill. President Joe Biden on Thursday, September 30, proposed the infrastructure bill.
Adoption of The Infrastructure Bill
Pelosi voiced confidence in the bill’s passage while announcing the date on Sunday, Sept. 26, according to Reuters, saying, “Let me just say that we’re going to approve the measure this week.” She allegedly stated earlier that she would not put the measure up for a vote unless she was confident it would pass.
According to Pelosi, they scheduled the vote on the day before the Surface Transportation Reauthorization Act of 2021 expires.
While the bill received bipartisan support in the Senate on Aug. 10, clauses in the bill mandate strict counterparty reporting requirements for decentralised network validators. Moreover, the software developers who lack the information needed to comply.
Although the bill passed on Aug. 10, Senator Pat Toomey proposed an amendment to exclude validators, developers, and node operators from the law. It received bipartisan support from Senators Cynthia Lummis, Rob Portman, Mark Warner, Kyrsten Sinema, and Ron Wyden.
Dismay of the Crypto Community
Alaman Senator Richard Shelby’s lone opposition prevented the amendment from being incorporated into the bill. However, this is to the dismay of the crypto community.
Some MPs, however, feel they should postpone the infrastructure measure until the finalisation of the $3.5 trillion social welfare and climate package. Because the cost of the second measure has irritated some Democrats, Pelosi stated that it is “self-evident” that it might lower the scope of the bill.
“We are currently working on modifications to this historic law with the Senate and the White House,” she added. “[$3.5 trillion] was the amount that the Senate and the president provided to us. Obviously, with negotiation, we should make adjustments as quickly as possible. So that we can reach an agreement to go forward.”
Read More: Bitcoin Law has been approved by a supermajority.
