Business News

The construction bill begins with a fight for Joe Biden


It took last week election turmoil in Virginia to open the inner circle of the Democratic Party. Friday night episode of bipartisan $ 1.2 tn construction gave a very happy ending to the worst week of Joe Biden’s leadership. Hope to pass $ 1.75tn “rebuild” The Thanksgiving Bill delivers good news to a frustrated president. Nothing is as successful as success, as the saying goes.

The small bill came just hours after a highly encouraging job report in months – with more than half a million added to wages in October. If the recent decline in the Delta epidemic continues, the US economy is expected to be strong in the run-up to next year’s general election. Although history and recent elections are not on Biden’s side, there is no metal rule that says the ruling party should lose power in the middle of the presidency. George W Bush ended this in 2002.

A political break aside, will take more than one construction bill changing the chances of this president. In some ways this is a major upgrade of human infrastructure since the leadership of Dwight D Eisenhower in the first cold war. The investment includes $ 550bn in new spending over a decade, which makes it relatively low compared to its headline.

However, the impact of new funding for US roads, railways, ports, rural areas, water and the construction of power plants will begin to be felt early next year. While more money is being invested in accounting technology rather than taxation, the proposed bill will help reduce US inflation by reducing inflation. This will help boost the US economic recovery after the epidemic.

The passage of the main bill has not yet been confirmed, however. In contrast to the construction package, which was supported by 13 Republican senators, rebuilding is a matter of democracy. Even then, finding a democratic coalition, which is required to go through everything in the 50:50 Senate, will be difficult.

The centrists’ protest has challenged the regulation of some of its key issues, including the establishment of an Internal Revenue Service to address tax evasion, new Medicare powers to negotiate lower drug prices, family rights and medical leave. , and an increase in the tax on high-income groups.

What is left is less than half the size of the original bill and very unchanged compared to its original promise. It would still provide opportunities for pregnant families, especially women, to raise funds for international childhood education and increase child tax credit. This should raise the number of working people in America who suffer from female infertility in reducing child labor. Again, such methods are disinflationary.

The bill will also provide the largest amount of renewable energy in U.S. history. Although it has been phased out to be a more effective means of climate change, which would have caused the electricity sector to shift from ground oil, which remains large.

Would this be enough to get Biden back on track? Now that you have decided to pay both bills, it would be hard to imagine that he could do this without setting up a second one. Biden’s recognition began to decline in August at the time of the departure of the Afghan army, which affected what he described as a “masterpiece”. Rising prices, high-risk threats, and a 10-year increase in illegal border crossings have brought peace. The best solution is to break your fears or problems into a series of smaller steps. Establishing major rules is what Biden should do.


Source link

Related Articles

Leave a Reply

Back to top button