Concord Coalition Executive Director Robert L. Bixby recently wrote an opinion piece for the Seacoast Media Group in The Portsmouth Herald about the ongoing reconciliation process in Congress, COVID-19 relief legislation, and opportunities for a bipartisan group of 16 U.S. Senators to have a positive impact on the legislative process and forthcoming Biden budget proposal.
An excerpt is below:
Looking ahead, it will be even more important for the bipartisan group to ensure that the forthcoming “Build Back Better” Biden budget is implemented in a way that is both pro-economic growth and fiscally responsible.
The importance of this was illustrated in new projections from the nonpartisan Congressional Budget Office showing that the deficit may shrink over the next few years as the pandemic fades but begin to rise again in 2025, reaching $1.9 trillion by 2031. In other words, our fiscal problems did not start with COVID-19 and will not end with COVID-19. New budget initiatives must take this into account.
Budget reconciliation has its place but it is not a good way to promote consensus on a post-pandemic economic plan.
Click to read, “Reconciliation in D.C. Doesn’t Mean What You Think.”