The U.S. is finalizing plans to double funding for big infrastructure projects around the world, seeking to counter China’s growing influence.

Congress is working to resolve the last barriers to passing a bill that would boost the U.S.’s role in international development. It would combine several little-known government agencies into a new body, with authority to do $60 billion in development financing—more than double the cap of the current agency that performs that function. The measure, supported by the Trump administration, easily passed the House this summer; it faces its biggest test in the Senate.

The new agency would have broad authority to go toe-to-toe with China in offering countries financing options for major infrastructure and development projects.

The bill’s momentum reflects growing bipartisan concern in Washington about the scale of China’s ambitions to restructure global trade routes so that all roads lead to Beijing. Senators have become especially concerned with China’s global investment plan known as the One Belt, One Road Initiative. China, which has flexed development muscle across the globe since it announced its plan in 2013, is thought to be willing to spend and lend trillions of dollars on projects like superhighways, railroads, harbors and ports.

“People are waking up to what China is doing and see that we have to counter that,” said Rep. Ted Yoho (R., Fla.), one of the House co-sponsors of the bill, which was introduced with bipartisan sponsorship in both chambers, with Sens. Bob Corker (R., Tenn.) and Chris Coons (D., Del.) in the Senate, and Mr. Yoho and Adam Smith (D., Wash.) in the House.