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Penn Wharton Budget Model predicts GDP decrease in 2050 from Senate budget resolution thedp.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thedp.com Daily Mail and Mail on Sunday newspapers.
August 4, 2021 Both Democratic and Republican senators who negotiated a bipartisan infrastructure bill have claimed the legislation is “paid for.” But a budget watchdog group says the bill only pays for about half of the $548 billion in new spending. The crux of the disagreement is that the senators count savings from COVID-19 relief programs that didn’t end up costing as much as expected. A roadworks crew resurfaces a road on June 24 in Alhambra, California. Photo by FREDERIC J. BROWN/AFP via Getty Images. “The framework claims $491 billion of offsets, and an additional $56 billion of savings from dynamic scoring, to pay for the bill,” the Committee for a Responsible Federal Budget writes in a post on its website. “However, many of these pay-fors count savings that have already occurred. We estimate actual offsets will total roughly $200 billion before dynamic scoring.” ....
Model Predicts Big Long-Term Returns For Bipartisan Infrastructure Package kjzz.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kjzz.org Daily Mail and Mail on Sunday newspapers.
Penn Wharton Budget Model finds that Senate infrastructure plan will decrease national debt thedp.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thedp.com Daily Mail and Mail on Sunday newspapers.
Share The bipartisan Senate infrastructure deal, endorsed by President Joe Biden, authorizes $1.2 trillion of spending, representing more than $570 billion in additional infrastructure investments compared to current policy, according to a new report from the Penn Wharton Budget Model (PWBM). “The infrastructure proposal would provide more than twice as much federal aid to infrastructure investment over the next five years,” says Jon Huntley, senior economist for the PWBM. “This is a large increase in the amount of money spent on roads, internet, water, rail, and other types of public infrastructure.” If passed, about $313 billion of the $1.2 trillion will go toward transportation projects, and $266 billion will go toward digital, disaster, environmental, and energy infrastructure investments. Of that $313 billion, about $49 billion is dedicated to public transportation, which includes low-emissions and electric transit. Another $66 billion is dedicated to rail ....