So-called infratructure bill will create no economic growth - U of PA study says | Beaufort County Now | Tillis and Burr negotiated this boondoggle with Biden and support it

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The University of Pennsylvania's Penn-Wharton Budget Model is one of the most respected budget analysis reports on federal budgets and spending, along with the CBO analysis.  For the "bi-partisan" bill negotiated between Biden and a group of RINOs including Thom Tillis and Richard Burr called loosely an "infrastructure" bill, the Penn-Wharton Budget model says it will produce no measurable economic benefit either short term by 2030 or long term by 2050 in terms of boosting such things as jobs or GDP.

The bill will produce $548 billion in additional spending, $132 billion in new taxes, and add $351 billion to the deficit.    The total cost is $1.2 Trillion but part of that is repurposing unspent money from Covid relief bills.

The other major analysis, by the Congressional Budget Office says the bill will add $256 Billion to the deficit.

With inflation already raging, this bill will only fan the flames to push it higher.

,https://budgetmodel.wharton.upenn.edu/issues/2021/8/5/updated-bipartisan-senate-infrastructure-deal

https://www.breitbart.com/politics/2021/08/05/study-so-called-bipartisan-infrastructure-bill-creates-no-significant-economic-growth/

https://www.cbo.gov/publication/57406

Of the major candidates in the 2022 US Senate primary in North Carolina, only Congressman Ted Budd has come out in opposition to this bill.  The other two major candidates have been silent.

While the bill has a little bit of infrastructure dressing, most of it is green new deal or social spending.


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Comments

( August 7th, 2021 @ 10:48 am )
 
This hodgepodge of horrible horrors bill is so bad on so many levels. It could be called the Big Brother Bill just on the privacy and heavy handed governmental intrusion aspects alone. Going down the list of things included in this so called infrastructure bill there's really very little good in it.

Could North Carolina have any less Senate representation? Repeal the 17th Amendment. What on earth could we have to lose?
( August 6th, 2021 @ 10:02 am )
 
This Tillis-Biden-Burr monster is a corrupt boondoggle for the green energy grifters:
redstate.com
( August 6th, 2021 @ 7:16 am )
 
The bill hit a snag when lawmakers in the Senate have filled nearly 300 amendments to the bill. www.zerohedge.com
( August 6th, 2021 @ 6:41 am )
 
The RINOs could not wait to get on board with the hidden liberalism that is in this bill. Complain to the Republican Party in Raleigh if you want to make a difference.
( August 5th, 2021 @ 8:43 pm )
 
Tillis and Burr are supporting national milage tax in their "infrastructure" bill. The bill sets up a pilot program for a tax on how many miles you drive your car or truck. This also has serious privacy implications. redstate.com



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