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President Trump’s now infamous “infrastructure week” may finally put the shovel in the ground … during the Biden administration.
Why is this important: If Majority Leader Mitch McConnell retains control of the Senate, a bill to fund all manner of public construction projects could be one of the few major pieces of legislation that President-elect Joe Biden can realistically achieve in the world. within a divided government, given its broad bipartisan support. .
What we hear: The president-elect’s transition team privately began laying the groundwork for reaching a bipartisan infrastructure deal in his first year in office.
- The team told business leaders they saw an opportunity to use it as a driver for more economic and job relief as the United States emerges from the coronavirus pandemic.
Driving the news: Business and labor leaders – who are now wondering if Congress can rally to adopt a coronavirus relief package – are salivating the potential of a secondary form of stimulus to fuel economic growth.
- Neil Bradley, Policy Director of the American Chamber of Commerce“, Said to me:” We certainly had conversations with them. … They are extremely interested in pursuing an infrastructure package, just like the House and the business community.
- He added: “Of all the problems that exist, this can form one of the broadest coalitions possible to help get something through Congress.”
Biden announced on Wednesday he hires former mayor Pete Buttigieg to head the Department of Transportation.
- He is a rising star in the Democratic Party and Biden’s team have sought an important role for him in the administration.
- Starting point on a major infrastructure deal – also seen as an opportunity to invest in climate change, 5G technology and underserved communities – ticks that box well.
Yes, but: Officials in Washington are still suffering from post-traumatic stress disorder from President Trump’s usual – but unsatisfied – part of talking about an upcoming “infrastructure week.” It has been promised multiple times over the past four years, but has gone off the rails for a recurring reason: who is footing the bill?
- Many Republicans – resuming their deficit hawk posture now that Trump is on the verge of extricating himself from it – are loath to agree to yet another trillion dollar deal after passing a massive stimulus bill early in the pandemic, while on the verge of second now.
- Democrats have not felt such reluctance, wanting to ensure that any spending is added to funding middle-class programs such as education and health care.
Be smart: Bradley says, “We can never tackle the underlying debt and deficit if we don’t accelerate growth.”
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