Peterson Foundation Statement on Bipartisan Infrastructure Legislation
Peterson Foundation Statement on Bipartisan Infrastructure Legislation
NEW YORK — Michael A. Peterson, CEO of the Peter G. Peterson Foundation, commented today as bipartisan infrastructure legislation moved forward in the U.S. Senate:
“It is encouraging that leaders in the U.S. Senate have reached an historic bipartisan agreement to invest in national infrastructure. The ability to work across the aisle to find common ground is an essential part of a functional democracy, and it’s been all too rare in recent years. The fact that lawmakers are pursuing ways to pay for their priorities is also an important recognition of our nation’s unsustainable fiscal outlook, and Congress and the administration should ensure that this new spending is fully funded with transparent, credible offsets.”
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Further Reading
The U.S. Deficit Should Only Be This High During Crises
One of the reasons to restrain debt and maintain a sustainable fiscal outlook is that emergencies arise that may necessitate federal support.
What Is the Disaster Relief Fund?
Climate and weather-related natural disasters are becoming increasingly frequent. In addition to endangering lives, they are economically costly.
What Is Budget Reconciliation?
With narrow majorities in both Houses of Congress, Republicans are expected to make use of the budget reconciliation process to advance key pieces of their agenda.