Budget office: Infrastructure bill adds $256B to deficits

[Omaha Steve]

Source: AP

By KEVIN FREKING and LISA MASCARO

WASHINGTON (AP) — Nearing decision time, senators are wrapping up work on the bipartisan infrastructure plan and talks were underway late Thursday to expedite consideration and voting on the nearly $1 trillion proposal.

The package appeared on track for eventual Senate passage, a rare accord between Republicans and Democrats joining on a shared priority that also is essential to President Joe Biden’s agenda. But the schedule was not set as senators were working into the evening, and voting could still push into the weekend.

A much anticipated analysis of the bill from the Congressional Budget Office concluded that the legislation would increase deficits by about $256 billion over the next decade. Senators wanted that information before voting.

As senators proposed more changes to the package, Senate Republican leader Mitch McConnell said those amendments would need to be considered, and then “we’ll be able to begin to wind things down.”



Senate Minority Leader Mitch McConnell, R-Ky., leaves the chamber as lawmakers work to advance the $1 trillion bipartisan bill, at the Capitol in Washington, Thursday, Aug. 5, 2021. (AP Photo/J. Scott Applewhite)


Read more: https://apnews.com/article/joe-biden-business-38067e7b0076de167c783941c1debd85

[tirebiter]

1. This is how you build equity.

Investment

[Raven123]

2. So the GOP got what they wanted?

Limited infrastructure, relatively little new money. I’m having trouble following the money from the Covid Bills passed. Seems to me in some states the money wasn’t spent entirely as intended. Hope those states that “redirected” dollars already allocated don’t get to tap into new money preferentially.

[WHITT]

8. Their Stealing Money

from year two of the Covid relief for the states and locals. Because funds must be spent before the end of the fiscal year, Speaker Pelosi intentionally made it a two-year package, so the states and particularly the locals would be able to plan how they want to use the funds.

The Repubs keep saying it's unspent funds, but both years have already been appropriated, the other half wasn't due to get spent until year two.

Thieves.

[sakabatou]

3. But the Republicans were perfectly fine with passing tax cuts that created a huge deficit.

They are such hypocrites.

[PSPS]

4. That's over a decade. $25 billion a year? That's 0.5% of the total budget. Nothing.

[Cicada]

7. One tenth of one percent of gdp

The bill will expand broadband to rural areas. It will eliminate drunk driving by requiring cars to not start if the driver’s breath is over the limit. As many new electric charging stations as gas stations now. More reliable electric grids. Cleaner air. Less time stuck in traffic. Sounds worth it to me.

[WHITT]

9. Not Enough Money

allocated to expand broadband to all rural areas. Only enough money allocated to remove less than a third of the lead pipes across the country. The other two-thirds of communities will still be drinking lead contaminated water.

[WHITT]

5. Where's Manchin?

He's been worried, concerned, and hand-wringing that the $3.5T package wouldn't be paid for (IT IS!), but now his lauded 'bipartisan' package is NOT paid for.

[abqtommy]

6. This bipartisanship is just a distraction to keep us from working on the partisan bill

that does more.

[maxsolomon]

10. Whoop de freakin doo.

Cut the DOD by a 1/3; all budget issues solved.

[peppertree]

11. Adjusted for inflation, that's as much as ONE YEAR of Bush's wars

Except this is over a decade. And we actually improve and modernize the country with this (imagine that!) - unlike Dubya's "cost-plus" wars.