3 big questions about Biden's emerging $3 trillion infrastructure proposal
President Biden met with Senate Democrats late Monday to discuss their next big legislative goal, an infrastructure and domestic policy package with a working price tag of about $3 trillion. The package, which The New York Times reports could go as high as $4 trillion, would be the centerpiece of Biden's "Build Back Better" agenda, combining money for roads and bridges, transportation funds, expanded pre-K and subsidized community college, broadband access, family support measures, and clean energy systems.
Here are 3 big questions about Biden's ambitious work in progress:
1. One bill or more? Biden's advisers are reportedly proposing splitting the package into at least two parts, trying to first pass a roughly $1 trillion bill to fix road and bridges, expand broadband, and fund other measure that have some broad bipartisan support. The second package would focus on people-centered economics, probably using the budget reconciliation process so no Republican votes are necessary. "There's only one more opportunity to use reconciliation this year," so the second bill would be subject to a GOP filibuster, Politico notes. "That strategy raises an obvious question: Can Biden get 10 Republican senators to cooperate on 'concrete and steel' when they know the tax and social welfare stuff they oppose is coming next via reconciliation?"
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
2. How high will they go? The working target for the legislation is $3 trillion over 10 years for infrastructure projects and the other proposals. Republicans are already raising concerns about the growing budget deficit. But the U.S. should really spend about $6 trillion on infrastructure alone over the next decade, the American Society of Civil Engineers said in its 2021 U.S. infrastructure report card. Among the reasons America got a C- are the 45,000 bridges in poor condition, water mains that break every two minutes, and 2,300 dams with "high hazard potential."
3. How will Biden pay for this? There are lots of potential funding mechanisms under discussion, but the biggest "source of money would be higher taxes on the affluent — people making at least $400,000 a year — and on corporations," David Leonhard reports at the Times. That would effectively undo the 2017 GOP tax cuts. "Some Republicans have expressed interest in infrastructure projects," but raising taxes would drain GOP support, The Wall Street Journal predicts. Even without tax hikes on the rich, getting any GOP support will be a heavy lift, Leonhardt says. "Congressional Republicans have almost uniformly opposed the top legislative priorities of each new Democratic president over the past three decades."
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
5 ways to help the environment while on vacation
The Week Recommends An afternoon of planting trees could be the best part of your trip
By Catherine Garcia, The Week US Published
-
Doctors are taking on dental duties in low-income areas
Under the radar Physicians are biting into the dentistry industry
By Devika Rao, The Week US Published
-
Instagram hopes that blurring nudity in messages will make teens safer
The Explainer The option will be turned on by default for users under 18
By Justin Klawans, The Week US Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published