They are Getting Ready to Build: Infrastructure Coming at You

The joy of politics is that sometimes you have to expect the unexpected. That delays can often happen, and then a deal can come together at the last minute. This was the case with the infrastructure bill. The bipartisan bill built its first procedural vote last week, and negotiators had to scramble to keep the deal together. Ultimately Senate voted to move the bill forward without Bill text. Some of it, just looking at the imprints of what the negotiators were releasing to them. Mainly the top-line numbers and. And then, finally, over another weekend, the final bill text was delivered. However, as the final text comes out, we are still waiting for the official scoring from the Congressional budget office.

This non-partisan group tells people how much they expect the bill to cost or to generate in terms of revenue. So what is the overall economic effect of the bill. For this particular bill, there was a goal not to raise any taxes as Republicans wanted nor increase enforcement through the IRS to get more tax revenue from people dodging their taxes.

An important side note is that generally, low-income people seem much more enforcement of their tax revenues than the higher-income folks in this country. Meaning that we audit because political decisions are more aggressive about going through the finances of those who have easier tax burden because of their less amount of wealth. Then those who might have more difficult tax burdens to look at because of the complexity of their wealth and resources.

So now we wait for the scorekeepers to say what the bill cost. Versus what are the pay fors for the bill.

I would summarize the bill but I think the New York Times does a really good job.

Inside the Epic Infrastructure Bill

What’s in the $1 trillion proposal, from broadband and bridges to ports and pedestrian crossings

It’s important to note that even as the bill moves forward in the senate Speaker Pelosi has stated she is waiting for the reconciliation process to start before introducing the package to the House. There are many steps still to go for the bill to make it through, but there is the promise that this could be the first significant infrastructure package in decades. But do look through the link there are number of important provision to this bill. And the jobs and contracts it could produce would be a boon to the economy. However we have to make sure that are communities are ready to compete for this money. And that projects that cometo our communities have our input.