US President Joe Biden’s fiscal spending plans echo Franklin Roosevelt’s New Deal during the Depression: relief and recovery. ‘Relief’ is the proposed $1.9 trillion Covid bill likely to be enacted in coming weeks through the Senate reconciliation process.[1] That money will be spent over the coming year. And ‘recovery’ is the oft-mooted $1.9 trillion infrastructure program spread over four years – our topic here. The Biden administration is yet to release a formal proposal or plan. One will presumably come after completion of the Covid relief legislation.

Everyone Loves Infrastructure

Most of what we know about Biden’s planned infrastructure program comes from his campaign and from statements after the election and his inauguration. Boiled down to essentials, it calls for extensive rebuilding and repairing of roads and bridges, and investment in public transit, clean energy, and electric vehicles. It would also improve housing and the power grid.

A comprehensive infrastructure program should theoretically attract bipartisan support. The issue has been out there for years – it was a big element in the 2016 presidential campaign, and infrastructure problems have only worsened since then.