The Triple Crown of Congressional Spending – “The Sunday Political Brunch”- October 3, 2021
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The Triple Crown of Congressional Spending – “The Sunday Political Brunch”- October 3, 2021
“Keep the Doors Open” – The fiscal year for the federal government runs from October 1 through September 30. This year (once again), we faced the prospect of a budget not being approved in time, so much of the non-essential functions of the federal government would shut down. But on Thursday there was an 11th hour deal that passed both chambers of Congress, that keeps the government-funded and running through December 3, 2021, and then we can revisit this crisis all over again. It’s almost become an entrenched Washington, DC tradition no matter which party is in power. "The passage of this bill reminds us that bipartisan work is possible,” said President Biden.
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“Highways Hijacked” – House Speaker Nancy Pelosi promised a vote on the bipartisan Senate infrastructure bill on Thursday, but suddenly the bill was pulled, and the vote delayed. The Pelosi camp was concerned that the progressive Democrats (the most liberal), had enough votes to defeat passage of the bill. Many progressives don’t want a separate vote on a traditional infrastructure bill but would rather lump it all together with the social infrastructure policies such as childcare and Green New Deal policies.
“Biden Visits Hill” – The standoff in the House brought President Biden to the Capitol Friday, in a rare attempt to sway legislation. Biden, with 36 years in the U.S. Senate knows all about the backslapping and handshaking and deal-making that goes on in the House and Senate to get a bill passed into law. “I’m telling you; we’re going to get this done,” Mr. Biden told reporters as he departed. “It doesn’t matter when. It doesn’t matter whether it’s in six minutes, six days or six weeks, we’re going to get it done.” Will his personal touch help? We’ll see!
“Where the Rubber Meets the Road” – It was one of the most iconic commercial jingles of the 1960s for Firestone tires: "The name that's known is Firestone, where the rubber meets the road." The rubber meeting the road, meant the proof was in the putting. The product had a reliable and certain payoff. It was very dependable. It worked. You could bank on it. The infrastructure analogy in the current legislation is unmistakable. People wanted good, safe, reliable roads and bridges. And they want good, safe, and reliable car tires to carry them forward (at least according to Firestone!)
“The Lessons of a 50-plus-Year-Old Song” – By and large, when an infrastructure bill is passed, it is often up to the state governors to implement the spending priorities in their states. In West Virginia, there are three major highway projects that were started decades ago, that remain unfinished. In some respects, they’ve become “roads to nowhere” without completion. So, some governors are furious the $3.5 billion in social infrastructure may gum up the whole works. "Why are we pushing a $3.5 trillion-dollar social bill? You know why we're doing that? Because the midterm election is staring us right down the barrel. And that is nothing but a money giveaway beyond belief. Because we're concerned with the midterm election," said Gov. Jim Justice (R) West Virginia.
“The Math of Politics” – How the whole infrastructure bills play out is critical. Governor Justice is insightful in that so much of this will potentially have an impact on the 2022 midterm election, (and by extension the 2024 presidential race). Next year Republicans need a net gain of just one seat to retake control of the U.S. Senate, and a net-loss of just three seats in the House will oust Speaker Nancy Pelosi and put the GOP back in charge. So, these upcoming votes have a potentially huge impact on our roads and highways, as well as the power structure of this country.
“The Folks Back Home” – Although he has been a harsh critic of Democrat’s plans, Senate Minority Leader Mitch McConnell ultimately was among the 19 Republicans who voted yes on the bipartisan plan. Why? Well, the bill includes $4.6 billion dollars for immediate infrastructure needs in Kentucky, plus $438 million in bridge maintenance funding. There is also significant funding for a spur on I-65 and bridges on I-69. Interstate highway funding is huge, as it’s tied to economic development! Kentucky would also be eligible for funding from $28 billion dollars in other pools of grants. The number one rule of politics in Washington, is take care of the folks back home first!
“What Should We Pass?” - A $1.2 trillion-dollar traditional infrastructure bill? A $3.5 trillion-dollar social infrastructure bill that includes things such as universal pre-kindergarten and childcare and environmental reforms? Is infrastructure just roads, bridges, highways, rails, and airports? Click the comment button to weigh in.
