According to a Penn Wharton Budget Model analysis, the bill would decrease government debt, and the gains from new infrastructure would improve economic efficiency and productivity, which would translate into higher gross domestic product and government revenue over time.
Consider how this bill differs in process and substance from the reckless tax-and-spending spree Democrats want to shove down the country’s throat in a matter of weeks through budget reconciliation. The infrastructure bill offers the nation a vision of responsible stewardship. It was negotiated rigorously over the course of months between House and Senate members, Democrats and Republicans. While the reconciliation bill steals from our children’s future by burdening the next generation with debt and weakening free enterprise, the infrastructure bill secures it by making investments our communities and economy need.
Conservatives should want government to make these sorts of investments. The federal government invested $14.5 billion to make New Orleans’ levee system more resilient after Hurricane Katrina. When the levees held firm against the storm surge during Hurricane Ida, we saw the return on that investment. Let’s make that same commitment to resiliency today.