The debates about investment in physical and social infrastructure are precisely what the US needs to decide what kind of society it should be and the appropriate role of government. Where there should be no debate is how best to finance such investment.
BERKELEY – The US Congress has just taken an important step toward implementing President Joe Biden’s fiscal plans, by passing a signature $1 trillion infrastructure bill. Now we will see whether the Congressional Budget Office (CBO), in its non-partisan wisdom, agrees that the companion plan for $1.75 trillion in social and climate-related spending is fully financed by additional taxes and other “pay fors,” as moderate Democrats evidently require.
BERKELEY – The US Congress has just taken an important step toward implementing President Joe Biden’s fiscal plans, by passing a signature $1 trillion infrastructure bill. Now we will see whether the Congressional Budget Office (CBO), in its non-partisan wisdom, agrees that the companion plan for $1.75 trillion in social and climate-related spending is fully financed by additional taxes and other “pay fors,” as moderate Democrats evidently require.