Defying all odds, the 50/50 split Senate and the Biden Administration has reached an agreement on a bipartisan infrastructure package and moved into the formal debate by a vote of 62-37. The 1 trillion dollar package, including nearly $600 billion in new spending, would also expand usage of private activity bonds for various purposes, including raising…
Category: Washington Weekly
The Washington Weekly – Deal Reached but Questions Remain
After months of legislative haggling, yesterday the Biden Administration announced an infrastructure deal has been reached with a bipartisan group of Senators setting the stage for late summer passage. While many details remain unknown, such as many details on how the plan will be paid for, the initial response on the Hill has been mixed.…
The Washington Weekly – New Bipartisan Infrastructure Deal?
After months of negotiations between the Biden Administration and a small working group of Senate Republicans, hopes for a grand infrastructure compromise have taken a major hit, laying the groundwork for a likely massive spending package that will pass along party lines later this year. While the most likely path for passage will be via budget…
The Washington Weekly – Republican Infrastructure Counter/ MBFA Submits Testimony
Yesterday, Senate Republicans offered another counteroffer to President Biden’s $2 trillion dollar infrastructure package. The counter includes $928 billion of infrastructure spending including $500 billion for roads, $98 billion for public transit, $46 billion for passenger rail, and more than $70 billion for water infrastructure and $20 billion for infrastructure financing-a show of support for…
The Washington Weekly – Munis Back in Spotlight / MBFA’s Virtual Fly-In
In a week in which Congress began to take definitive steps towards drafting infrastructure legislation, bipartisan talks began to fall apart, with a rise in corporate rates as a “red-line” for Congressional Republicans. Just 4 days ago, a deal was realistically in sight. Leaders from both parties were set to meet with the President on…
The Washington Weekly – Bonds Remain in Focus
As Congress reconvened from a 2 week Easter recess, private infrastructure squabbles turned public, likely ending any existing hope for a serious bipartisan push. While arguments boiled over on size and scope, House Ways and Means Members were busy drafting financing language for the eventual bill, with an emphasis on bonds, and the Senate was…
The Washington Weekly: Infrastructure in Trouble?
Even with Congress in a two-week Easter recess, news continues to trickle out of Washington, DC, potentially putting the infrastructure package in jeopardy. This week Senator Manchin put his mark on the debate, continuing to flex his muscle as the swing vote in the 50-50 split Senate. The Senator from West Virginia continues to push…
The Washington Weekly: House Committee Considers Munis
Last week, President Biden signed into law the American Rescue Plan Act, a robust $1.9 trillion dollar stimulus package that has monopolized the Administrations’s first 100 days agenda. While no muni provisions were included in the final package, the bill did direct $350 billion of unencumbered funding to state and local governments. All indications are…
The Washington Weekly: A Turn to Munis and Infrastructure
While the Senate is on track to pass an additional $1.9 trillion dollar stimulus package by the end of the week that includes $350 in unencumbered funding to state and local governments, the Biden Administration and some in House Leadership appear to be turning attention to infrastructure. Yesterday, the President, Vice-President and DOT Secretary Buttigieg…
The Washington Weekly: Biden Begins Work on Infrastructure
As Congress continues to take steps to pass an additional $2 trillion dollar COVID relief package, President Biden and his Administration have begun to turn attention to infrastructure. This week during a White House meeting with labor leaders, Biden laid out parameters for what will likely be a massive spending package released later in the…