Finance experts say the plan to pay for the infrastructure proposal, in part by clawing back unspent covid relief funds, is unlikely to cover the full cost.
The White House and a bipartisan group of senators heralded agreement on an infrastructure package framework as a major breakthrough. But policy and finance experts say the real breakthrough will come if lawmakers find a way to pay for the proposal.
President Biden has promised not to raise taxes on people earning less than $400,000 while senators said the infrastructure proposal would not include new taxes. Details about the financing of the $1.2 trillion proposal are limited, and experts have questioned whether the mishmash of possible funding sources outlined in a White House proposal will be enough to pay for the project.
Route Fifty
By Andrea Noble
JULY 2, 2021