Mathew Kahn discusses the ramifications of the major transportation spending recently passed by the US Congress. Of course, as the pie chart shows, infrastructure as many people think of it—construction or improvement of bridges, highways, roads, rail and subways, ports, waterways, and airports—accounts for only $157 billion, or 7%, of the plan’s estimated cost. Still that is a lot of money (“A billion here, a billion there, and soon it adds up to real money”–US Senator), and Kahn provides a list of concerns in his article What Insights Does Economics Offer About the Nascent Biden Administration Transport Infrastructure Investment Program? Excerpts in italics with my bolds and images.
The Washington Post has published a piece stating that the Secretary of Transportation, Peter Buttigieg, is the big winner of the Biden Infrastructure Bill as he will be attending many ribbon cutting ceremonies as grateful local mayors shake his hand.
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