WATCH: Biden, senators, come to agreement on infrastructure spending bill

President Joe Biden announced on Thursday morning that he had reached a deal with the senate to enact a massive infrastructure spending bill. Flanked by five senators from both sides of the aisle, Biden spoke from the White House about the compromise that was reached.

"One of the things that we agreed on infrastructure, we made serious compromises on both ends, there is, they'll give you the numbers. But we did not, they did not, and I understand their position, Republicans and this group did not want to go along with many of my family plan issues, the child care tax credits, the human infrastructure that I talk about," Biden said.

He was joined by GOP Senators Bill Cassidy of Louisiana, Susan Collins of Maine, Lisa Murkowski of Alaska, Rob Portman of Ohio and Mitt Romney of Utah, as well as Democrat Senators Joe Manchin III of West Virginia, Jeanne Shaheen of New Hampshire, Kyrsten Sinema of Arizona, Jon Tester of Montana and Mark Warner of Virginia.

"And we'll see what happens in a reconciliation bill and the budget process, if that, we get some compromise there, and if we can't see if I can attract all the Democrats to a position that is there, but they're gonna move in a dual track, and that's all I'll say," Biden continued.

"But I want to thank each and everyone of them. It's been, y'know, a lot of us go back a long way, give each other our word and that's the end. Nobody questions it. They have my word, and I'll stick with what they proposed, and I have their word as well. So, where I come from, that's good enough for me."

The massive spending plan will increase the federal government's spending by about $600 billion, according to The New York Times. The agreement was reached on Wednesday evening. Vice President Kamala Harris was reportedly part of the negotiations, and met with Senators and Biden on Thursday morning. She was not part of the announcement, but hung back behind a pillar.

The spending bill includes funding for roads, increased internet access, and energy utilities, but does not include Biden's childcare plans, which he lamented during his Thursday announcement. The Biden administration intends to pay for this cash outlay with an increase in tax revenue. The details on those tax increased have not yet been clarified, although part of the plan is to give the IRS more ability to enforce existing tax laws and ramp-up collections.