The Bipartisan Infrastructure Agreement is Embarrassing

Remember the Biden administration’s proposal to spend $2 trillion on infrastructure? Traditional infrastructure spending accounted for roughly half of that proposal. It was less than half of what the American Society of Civil Engineers believes we need. According to them, the US faces a $2.59 trillion infrastructure shortfall over the next 10 years. Now a bipartisan deal has been announced which limits new spending to just $579 billion. That’s less than a quarter of what our civil engineers believe we need. To make matters worse, the administration has agreed to fund much of the spending with public/private partnerships. Many essential infrastructure projects can’t generate a profit–they require huge up-front investments and continuous maintenance. The more an infrastructure package depends on private funding, the more limited that package is in the kinds of projects it can fund. How did it come to this? Let’s run through some of the reasons why the infrastructure plan was so completely butchered.

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