The bill also requires workers on the projects to be paid no less than the prevailing wage for such work. This provision is included in a section titled "Wage rate and employment protection requirements."

Specifically, the bill allows for:

$2 billion in grants-in-aid for airports,

$1 billion for capital, research and operating costs for Next Generation air traffic control system development,

$27 billion for funding for highway repair and construction,

$4 billion in grants for high-speed rail projects,

$2 billion in grants to Amtrak, none of which can be used to fund Amtrak's operating losses and must be used for construction,

$3 billion in grants to help transit system operating costs,

$6 billion in additional grants under the Federal Transit Administration's discretionary "state of good repair" program, and

$5 billion in grants and financing for surface transportation infrastructure.

Aside from that $50 billion in new spending, the bill would create a $10 billion infrastructure bank called the American Infrastructure Financing Authority (AIFA). The AIFA would use this money to offer loans and loan guarantees that facilitate infrastructure projects around the country.

As noted by Senate Majority Leader Harry ReidHarry Mason ReidSenate GOP breaks record on confirming Trump picks for key court Don’t worry (too much) about Kavanaugh changing the Supreme Court Dem infighting erupts over Supreme Court pick MORE (D-Nev.), the bill would tax income above $1 million by an additional 0.7 percent to fund the bill. The measure was sponsored by Sen. Amy KlobucharAmy Jean KlobucharGOP seeks separation from Trump on Russia Hillicon Valley: EU hits Google with record B fine | Trump tries to clarify Russia remarks | Sinclair changing deal to win over FCC | Election security bill gets traction | Robocall firm exposed voter data Election security bill picks up new support in Senate MORE (D-Minn.), and is co-sponsored by Reid and several other Senate Democrats.