NightFox
Wildling
Source: CNBC.COM
Story: Bipartisan Senate infrastructure deal would cost about $1 trillion
“An infrastructure plan crafted by a group of Senate Democrats and Republicans would cost roughly $1 trillion, a price tag that leaves the senators with work to do to win over members of both parties.
The proposal, which aims to upgrade physical infrastructure such as transportation and water systems, would cost $974 billion over five years or $1.2 trillion over eight years, a source familiar with the plan told CNBC. It would include $579 billion in new spending above the baseline already set by Congress. Biden asked for about $600 billion in new money, according to Sen. Bill Cassidy, R-La.
Senators have not announced how they plan to pay for the investments. The proposal “would be fully paid for and not include tax increases,” the 10 lawmakers who reached the deal said in a statement Thursday.
The group framed their proposal as a compromise to upgrade U.S. infrastructure with bipartisan support in Congress. The senators still need to win backing from President Joe Biden and congressional leaders for their plan to gain traction.”
This should be interesting to watch, of course the devil is in the details and the available details on the proposal are still lacking. There’s also not a lot of information on how well this proposal has been received by the White House. I also suspect that the far left Congress Critters will balk at the low price tag and the removal of “Human Infrastructure” and Social Welfare spending from the original Democrat sponsored proposal. Then we have the issue of how this would be paid for, obviously the Republicans aren’t going along with any increased in income taxes, so where is the money going to come from?
It’s clear that we have as a nation been under investing in critical infrastructure for quite a while, could this possibly turn out to be a first step toward reversing that trend? Time will tell I suppose.
Story: Bipartisan Senate infrastructure deal would cost about $1 trillion
“An infrastructure plan crafted by a group of Senate Democrats and Republicans would cost roughly $1 trillion, a price tag that leaves the senators with work to do to win over members of both parties.
The proposal, which aims to upgrade physical infrastructure such as transportation and water systems, would cost $974 billion over five years or $1.2 trillion over eight years, a source familiar with the plan told CNBC. It would include $579 billion in new spending above the baseline already set by Congress. Biden asked for about $600 billion in new money, according to Sen. Bill Cassidy, R-La.
Senators have not announced how they plan to pay for the investments. The proposal “would be fully paid for and not include tax increases,” the 10 lawmakers who reached the deal said in a statement Thursday.
The group framed their proposal as a compromise to upgrade U.S. infrastructure with bipartisan support in Congress. The senators still need to win backing from President Joe Biden and congressional leaders for their plan to gain traction.”
This should be interesting to watch, of course the devil is in the details and the available details on the proposal are still lacking. There’s also not a lot of information on how well this proposal has been received by the White House. I also suspect that the far left Congress Critters will balk at the low price tag and the removal of “Human Infrastructure” and Social Welfare spending from the original Democrat sponsored proposal. Then we have the issue of how this would be paid for, obviously the Republicans aren’t going along with any increased in income taxes, so where is the money going to come from?
It’s clear that we have as a nation been under investing in critical infrastructure for quite a while, could this possibly turn out to be a first step toward reversing that trend? Time will tell I suppose.