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.”
# # #
Further Reading
Continuing Resolutions Are Stopgap Measures — But Now We Average Five a Year
While continuing resolutions can help avoid government shutdowns, they should be rarely used. However, CRs have become the norm.
What Is a Continuing Resolution?
A continuing resolution is a temporary funding measure that Congress can use to fund the federal government for a limited amount of time.
Bond Market Movements Point to Growing Fiscal Risks
As ratings agencies have serially warned, U.S. debt growth is unsustainable, and global investors appear to be weighing the risks of financing U.S. deficits more heavily.