"The Senate’s bipartisan physical infrastructure bill is a triumph of congressional dealmaking, the sort of thing President Biden extols and the likes of which we have not seen in recent years. Compromises were made on scope, cost and offsets. If it eventually makes its way to Biden’s desk for his expected signature, members of both parties will be able to claim credit for the good stuff and share responsibility for anything that goes wrong. That’s the way major legislation is supposed to work.
And yet, there is an ominous aspect to the bill that does not bode well for future negotiations: The zeal to deal produced a package in which the spending is a lot more real than the offsets. According to the Congressional Budget Office (CBO), the bill would increase deficits by $256 billion between 2021 and 2031."
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