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The Case against the Senate Infrastructure Agreement

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The Case against the Senate Infrastructure Agreement

National Review Online August 7, 2021
Urban PolicyInfrastructure & Transportation

The infrastructure proposal would be both wasteful and ineffective.

The Senate is poised to pass a $550 billion Infrastructure Investment and Jobs Act (IIJA) that would pile on hundreds of billions in new debt without fixing America’s broken infrastructure system. There are three main reasons for responsible lawmakers to oppose this bill:

The Cost

The case for adding $550 billion in federal infrastructure spending is weak. First and foremost, Washington has already borrowed a staggering $6 trillion since the pandemic began, and is projected to borrow $12 trillion more over the next decade just to finance current programs. On top of that, President Biden and congressional Democrats have proposed a $3.5 trillion reconciliation bill plus an 8.4 percent increase in discretionary spending that would cost $1 trillion over the decade. Congress is highly unlikely to allow temporary policies such as the expanded child tax credit to expire, and those extensions would also cost $1 trillion over the decade. Overall, the national debt held by the public would leap from $17 trillion before the pandemic to $40 trillion a decade from now.

Continue reading the entire piece here at National Review Online

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Brian M. Riedl is a senior fellow at the Manhattan Institute. Follow him on Twitter here.

Photo by RichLegg/iStock

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