The Next Installment in the US Fiscal Policy Epic: The Usual Theatrics
(3 minutes read)
The BIF (infrastructure) has now been signed into law but there won’t be an impact before the mid-terms. Of the $550mn in additional spending most of it will get spent after November 2022. Time to turn our attention to BBB, government funding and debt ceiling.
BBB (Build Back Better) is unlikely to become law before Christmas: the CBO is to release its full estimate of the budget impact of the bill today. CBO scoring was a key demand from House Democratic moderates. The CBO estimates already released are in line with the Democrats’ so there is a good chance that the Bill could get voted by the House by the weekend. But then the Bill is likely to get modified in the Senate where both progressive and centrists have objections to the current House version.
The BIF (infrastructure) has now been signed into law but there won’t be an impact before the mid-terms. Of the $550mn in additional spending most of it will get spent after November 2022. Time to turn our attention to BBB, government funding and debt ceiling.
BBB (Build Back Better) is unlikely to become law before Christmas: the CBO is to release its full estimate of the budget impact of the bill today. CBO scoring was a key demand from House Democratic moderates. The CBO estimates already released are in line with the Democrats’ so there is a good chance that the Bill could get voted by the House by the weekend. But then the Bill is likely to get modified in the Senate where both progressive and centrists have objections to the current House version.
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