President Joe Biden has announced a bipartisan $1 trillion infrastructure spending bill via budget reconciliation but has not told the American people how they can afford it under current deficit-neutral rules. Given the massive growth in government spending due to emergency COVID spending, the only approach is to revive bipartisan-sequestration rules from 2011 that prohibit […]
President Joe Biden has announced a bipartisan $1 trillion infrastructure spending bill via budget reconciliation but has not told the American people how they can afford it under current deficit-neutral rules. Given the massive growth in government spending due to emergency COVID spending, the only approach is to revive bipartisan-sequestration rules from 2011 that prohibit the increase in discretionary spending for a minimum of three years, rather than raising taxes.
If infrastructure is a priority for government spending, then it’s only logical that funds be shifted from other areas, including unspent COVID funds, to meet this priority. It would be a massive mistake to burden our recovering economy will killer tax increases. Flatlining government spending is the only acceptable approach to paying for any infrastructure plan.
Rick Manning is president of Americans for Limited Government (ALG). The organization says it is a “non-partisan, nationwide network committed to advancing free-market reforms, private property rights, and core American liberties.” This op-ed is drawn from a news release the ALG issued on June 24.