Fiscal Policy in the US: Build Back Better

(Washington Post, 3/31/21)
Initially when President Biden proposed the American Jobs Plan Republicans and business groups were opposed to it. They argued that the proposed tax increases would harm US investment and global competitiveness. There’s worry about inflation from the coronavirus relief package, and the proposal of another large bill makes Republicans uneasy.

(The Hill, 6/24/21)
Nancy Pelosi and other top Democrats promise to refrain from voting on the hard infrastructure bill unless the softer infrastructure bill is passed in tandem. Pelosi’s comments reflect the Democratic party's commitment to its Progressive components. More centrist Democrats such as Joe Manchin did not wholeheartedly endorse Pelosi’s plan.

(CNBC, 6/27/21)
Republicans say that the bipartisan infrastructure deal can move forward after President Biden clarified that a reconciliation package is not needed. The process of adding the reconciliation bill that Biden wanted would mean that Republican votes are not needed to get the bill through Congress. Earlier President Biden had stated that he wouldn’t sign the bipartisan bill unless both bills were passed, which angered the Republicans and lessened the chance of the bipartisan bill getting passed.

(Westchester Journal News, 11/9/21)
Progressive Democrats who refused to sign the Infrastructure Investment and Jobs Act faced widespread disapproval. Alexandria Ocasio-Cortez, and Jamaal Bowman were 2 of the five progressive Democrats who did not sign the infrastructure bill. These Democrats had hoped to pair this hard infrastructure bill with a softer human infrastructure bill.

(Brookings Institution, 8/11/21)
Economists at the Brookings Institute highlighted the positives of the recently passed Infrastructure bill. The infrastructure projects will allow the US to better meet climate goals, expand access to high-speed internet, and help to keep the United States competitive on the global stage. The bill is also expected to provide a plethora of new employment opportunities for skilled and manual labor alike.

(Brookings Institution, 11/9/21)
The Brookings Institute applauds the Infrastructure Investment and Jobs Act but says that the passing of the bill is just the beginning. Entirely new programs have been approved to address much needed problems here in the US, but it will take time to set these programs up and get them running. It will also take time to see the physical infrastructure in our communities.

(Tunnel Business Magazine, 4/1/21)
Throughout the construction Associations in America there is a consensus of support for the Infrastructure Investment and Jobs Act. These Associations that are quoted in the article are ones that are directly responsible for carrying out many of the upgrades outlined in the bill. The only critique by some of the Associations is that they are unsure how it will all be paid for and are worried that a raise in corporate taxes will hurt the very companies that are supposed to carry out the infrastructure projects.

(Business Roundtable, 11/15/21)
The Business Roundtable commended President Biden, the House, and the Senate on their bipartisan efforts to pass the Infrastructure Investment Act. The leaders of the Business Roundtable see the infrastructure bill as vital in order to keep America competitive, and to allow business to thrive.

(Main Street Alliance, 11/15/21)
The Co-Executive Director of the Main Street Alliance Chanda Causer lauded the newly passed infrastructure bill and highlighted its significance for small and local businesses. Ms. Causer also commented on the increased ability to fund the bill with the wealthiest Americans and corporations beginning to pay their fair share.

(Global Times, 11/7/21)
The hope that the passing of the infrastructure bill will put the US in a position to win the economic competition of the 21st century is false. China’s infrastructure is very advanced due to the large population and because it was built recently. The US on the other hand wants to upgrade their infrastructure only because they don’t want China to surpass them in any way and can’t accept that other countries are successful.

(Institutional Investment Research, 11/7/2021)
The passage of the infrastructure bill is a sign that America finally realized that China is outpacing them on infrastructure. US policy towards infrastructure changed greatly during the 1980’s and viewed infrastructure as less important. The rapid geo-economic rise of China caused the US to rethink its view on infrastructure.