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The Biden Administration Is Selling Infrastructure As a Complete Win-Win
The authors noted that over time the new spending from the infrastructure framework will decline while IRS enforcement continues. This will prompt an increase in GDP and revenue growth.
Jul 8 - The bipartisan infrastructure deal that the Biden administration agreed to last week would decrease government debt and add billions of dollars to the economy, according to a new analysis released Wednesday.
The report, conducted by the Penn Wharton Budget Model, estimated that during the first decade of the bill’s framework, debt would increase by 0.4 percent compared to the baseline while GDP stays the same as under the current-law baseline, citing that spending would outpace the increases in revenue for the first ten years.
“It will take us a long time for the infrastructure to become productive, but it will provide a small but significant increase in output over the long term,” Jonathan Huntley, one of the authors of the analysis, told The Hill.
In 2050, however, government debt would decline by 0.9 percent compared to baseline and GDP would climb by 0.1 percent.
The authors noted that over time the new spending from the infrastructure framework will decline while IRS enforcement continues. This will prompt an increase in GDP and revenue growth.
The report comes as President Joe Biden and a bipartisan group of senators last week struck an infrastructure deal that proposes $579 billion in new spending over the next five years, with a total of $1.2 trillion in spending over eight years. The legislation focuses spending on traditional infrastructures, such as roads and bridges, water infrastructure, energy investments and climate resiliency.
The proposal calls for any “unused” coronavirus relief funds and increased IRS enforcement activities to help fund the new spending.
Biden traveled to Wisconsin on Tuesday to sell the infrastructure deal, where he argued that improving America’s infrastructure is a critical investment that would also help mitigate the climate change crisis and build millions of new jobs in the energy and transportation sectors.
“This deal isn’t just the sum of its parts. It’s a signal to ourselves, and to the world, that American democracy can come through and deliver for all our people,” Biden said. “America has always been propelled into the future by landmark investments.”
He added. “We’re not just tinkering around the edges.”
Biden and congressional Democrats are also reportedly considering passing a Democratic-only measure this year that includes investments that weren’t featured in the bipartisan infrastructure deal. source from
The authors noted that over time the new spending from the infrastructure framework will decline while IRS enforcement continues. This will prompt an increase in GDP and revenue growth.
Jul 8 - The bipartisan infrastructure deal that the Biden administration agreed to last week would decrease government debt and add billions of dollars to the economy, according to a new analysis released Wednesday.
The report, conducted by the Penn Wharton Budget Model, estimated that during the first decade of the bill’s framework, debt would increase by 0.4 percent compared to the baseline while GDP stays the same as under the current-law baseline, citing that spending would outpace the increases in revenue for the first ten years.
“It will take us a long time for the infrastructure to become productive, but it will provide a small but significant increase in output over the long term,” Jonathan Huntley, one of the authors of the analysis, told The Hill.
In 2050, however, government debt would decline by 0.9 percent compared to baseline and GDP would climb by 0.1 percent.
The authors noted that over time the new spending from the infrastructure framework will decline while IRS enforcement continues. This will prompt an increase in GDP and revenue growth.
The report comes as President Joe Biden and a bipartisan group of senators last week struck an infrastructure deal that proposes $579 billion in new spending over the next five years, with a total of $1.2 trillion in spending over eight years. The legislation focuses spending on traditional infrastructures, such as roads and bridges, water infrastructure, energy investments and climate resiliency.
The proposal calls for any “unused” coronavirus relief funds and increased IRS enforcement activities to help fund the new spending.
Biden traveled to Wisconsin on Tuesday to sell the infrastructure deal, where he argued that improving America’s infrastructure is a critical investment that would also help mitigate the climate change crisis and build millions of new jobs in the energy and transportation sectors.
“This deal isn’t just the sum of its parts. It’s a signal to ourselves, and to the world, that American democracy can come through and deliver for all our people,” Biden said. “America has always been propelled into the future by landmark investments.”
He added. “We’re not just tinkering around the edges.”
Biden and congressional Democrats are also reportedly considering passing a Democratic-only measure this year that includes investments that weren’t featured in the bipartisan infrastructure deal. source from
JULY 7, 2021
President Biden Speaks at McHenry County College in Illinois
PresidAAent Biden delivered remarks at McHenry County College in Crystal Lake, Illinois, on his Build Back Better Plan. The president highlighted key aspects of the plan, including investments in families, access to free education, affordable health care, clean energy, and job creation.
President Biden Speaks at McHenry County College in Illinois
PresidAAent Biden delivered remarks at McHenry County College in Crystal Lake, Illinois, on his Build Back Better Plan. The president highlighted key aspects of the plan, including investments in families, access to free education, affordable health care, clean energy, and job creation.
Remarks by President Biden During a Tour of McHenry County College
JULY 07, 2021•SPEECHES AND REMARKS
McHenry County College
Crystal Lake, Illinois
Q Mr. President, Mitch McConnell says you’re in for a heck of a fight on this one.
THE PRESIDENT: Mitch McConnell loves our programs. Did you see what Mitch McConnel said? He told me he wasn’t going to get a single vote in order to allow me to get, with the help of everybody here, that $1.9 trillion tax cut — I mean, excuse me, program to — for economic growth.
Look it up, man. He’s bragging about in Kentucky: “It’s a great thing for Kentucky. It’s getting $4 billion to help poor.” It’s amazing. Check out Mitch McConnell. You can even see it on TV.
Anyway, thanks. Thank you. source from
JULY 07, 2021•SPEECHES AND REMARKS
McHenry County College
Crystal Lake, Illinois
Q Mr. President, Mitch McConnell says you’re in for a heck of a fight on this one.
THE PRESIDENT: Mitch McConnell loves our programs. Did you see what Mitch McConnel said? He told me he wasn’t going to get a single vote in order to allow me to get, with the help of everybody here, that $1.9 trillion tax cut — I mean, excuse me, program to — for economic growth.
Look it up, man. He’s bragging about in Kentucky: “It’s a great thing for Kentucky. It’s getting $4 billion to help poor.” It’s amazing. Check out Mitch McConnell. You can even see it on TV.
Anyway, thanks. Thank you. source from
Press Gaggle by Press Secretary Jen Psaki Aboard Air Force One En Route Crystal Lake, IL
JULY 07, 2021•PRESS BRIEFINGS
Aboard Air Force One
En Route Crystal Lake, Illinois
MS. PSAKI: Hi, everyone. Welcome to our trip to Crystal Lake, Illinois. In Crystal Lake, the President will make the case for generational investments in human infrastructure and other critical priorities like clean energy that form his Build Back Better agenda, a combination of the American Families Plan, and policies from the American Jobs Plan that aren’t included in the Bipartisan Infrastructure Framework.
At McHenry County College, which has workforce development programs and a childcare center, the President will underline the specific game-changing impacts of the Buil- — his Build Back Better agenda.
He will argue that to build an economy from the bottom up and the middle out, we need to invest in our people by providing four additional years of public education to every student, increasing Pell Grants and investing in job training... more
JULY 07, 2021•PRESS BRIEFINGS
Aboard Air Force One
En Route Crystal Lake, Illinois
MS. PSAKI: Hi, everyone. Welcome to our trip to Crystal Lake, Illinois. In Crystal Lake, the President will make the case for generational investments in human infrastructure and other critical priorities like clean energy that form his Build Back Better agenda, a combination of the American Families Plan, and policies from the American Jobs Plan that aren’t included in the Bipartisan Infrastructure Framework.
At McHenry County College, which has workforce development programs and a childcare center, the President will underline the specific game-changing impacts of the Buil- — his Build Back Better agenda.
He will argue that to build an economy from the bottom up and the middle out, we need to invest in our people by providing four additional years of public education to every student, increasing Pell Grants and investing in job training... more
After the assassination of Haiti’s president, it’s unclear who will lead the country
Jul. 8 - ...There are still many questions about Wednesday’s assassination, but Haiti’s ambassador to the United States, Bocchit Edmond, said it “was carried out by well-trained professionals, killers … mercenaries.”
Videos of the assassination showed the gunmen speaking Spanish among themselves, Edmond said in a Zoom briefing with reporters in Washington, leading officials to believe that “they came from outside Haiti.” He said the president’s wife, Martine, was wounded in the attack and was being transported to a Miami hospital in critical but stable condition...
...Some critics have accused the Biden administration of essentially continuing Trump-era policies that turned a blind eye to the island’s desperation and allowed Moise to survive. In one reversal, however, President Biden renewed temporary protected status for tens of thousands of Haitians who have fled to the U.S., extending their legal stay in the country by 18 months.
Pierre Espérance, executive director of the National Human Rights Defense Network, an NGO in Port-au-Prince, said the international community should support civil society in its call for a transitional government.
“We’re not asking the Biden administration to solve everything, we’re asking them to listen to us,” he said.
The whole country, he said, was united in uncertainty. “For now it’s eerily quiet,” he said. “We don’t know what will happen today or tomorrow.” quoted from
Jul. 8 - ...There are still many questions about Wednesday’s assassination, but Haiti’s ambassador to the United States, Bocchit Edmond, said it “was carried out by well-trained professionals, killers … mercenaries.”
Videos of the assassination showed the gunmen speaking Spanish among themselves, Edmond said in a Zoom briefing with reporters in Washington, leading officials to believe that “they came from outside Haiti.” He said the president’s wife, Martine, was wounded in the attack and was being transported to a Miami hospital in critical but stable condition...
...Some critics have accused the Biden administration of essentially continuing Trump-era policies that turned a blind eye to the island’s desperation and allowed Moise to survive. In one reversal, however, President Biden renewed temporary protected status for tens of thousands of Haitians who have fled to the U.S., extending their legal stay in the country by 18 months.
Pierre Espérance, executive director of the National Human Rights Defense Network, an NGO in Port-au-Prince, said the international community should support civil society in its call for a transitional government.
“We’re not asking the Biden administration to solve everything, we’re asking them to listen to us,” he said.
The whole country, he said, was united in uncertainty. “For now it’s eerily quiet,” he said. “We don’t know what will happen today or tomorrow.” quoted from
Turkish, US defence chiefs discuss Kabul airport
Jul 8 - Turkish Defence Minister Hulusi Akar and his US counterpart Lloyd Austin have discussed Kabul airport operation and security.
Akar and Austin had a “constructive and positive meeting” to discuss a plan for Turkey to operate and guard the Kabul airport after NATO’s withdrawal from Afghanistan, the Turkish Defence Ministry said.
Ankara has offered to run and guard the airport after NATO’s withdrawal, and has been in talks with allies on financial, political and logistical support.
Security of the airport is the key to operations of diplomatic missions out of Afghanistan after the withdrawal of international troops.
The Pentagon said in a statement Austin and Akar discussed the drawdown of the US forces from Afghanistan and both reasserted the importance of adequate security at the airport.
It said the two sides agreed to speak again in the near future on the issue. The talks would continue on Thursday, the statement added. source from
Jul 8 - Turkish Defence Minister Hulusi Akar and his US counterpart Lloyd Austin have discussed Kabul airport operation and security.
Akar and Austin had a “constructive and positive meeting” to discuss a plan for Turkey to operate and guard the Kabul airport after NATO’s withdrawal from Afghanistan, the Turkish Defence Ministry said.
Ankara has offered to run and guard the airport after NATO’s withdrawal, and has been in talks with allies on financial, political and logistical support.
Security of the airport is the key to operations of diplomatic missions out of Afghanistan after the withdrawal of international troops.
The Pentagon said in a statement Austin and Akar discussed the drawdown of the US forces from Afghanistan and both reasserted the importance of adequate security at the airport.
It said the two sides agreed to speak again in the near future on the issue. The talks would continue on Thursday, the statement added. source from
US to Keep Ongoing Presence in Kabul: White House
Jul 8 - White House press secretary Jen Psaki on Tuesday said that the US intentions are to maintain a continued presence in Kabul despite the US troop withdrawal from Afghanistan.
“Well, first, I would say that we have every intention of continuing an ongoing presence in Kabul, which is continuing even after we bring our military, who are serving, home by the end of August,” Psaki said.
“But we will also continue to be partners to the Afghan government. That’s something that the President reiterated when he met with leaders just a week and a half ago. That we — that includes security assistance, that includes humanitarian assistance, and that includes over-the-horizon capacity to ensure that we are working to address any threats that we face.”
“That will continue, and we intend to have a presence on the ground in our embassy there in Kabul,” she further said.
On the American troops withdrawal announcement by Joe Biden in April, she said: “if you take us back to when the President made this decision and announcement: We he asked his team to do a clear-eyed assessment, not to sugarcoat it, of what the impact could be, of moving withdrawing our troops from Afghanistan after a 20-year war a war that the President continues to feel does not have a military solution.”
“What the President is continuing to press on is a political solution and political negotiations and discussions, which we hope will reconvene soon, to move toward a political solution on the ground to bring greater peace and stability to the people of Afghanistan. That’s his hope,” he added.
This comes as the US has completed “more than 90 percent” of its withdrawal from Afghanistan, the United States Central Command (CENTCOM) confirmed in a statement on Tuesday.
and coalition forces left Bagram Airfield last week, which for nearly 20 years was the largest US base in Afghanistan. About 650 troops are expected to remain to protect the US Embassy in Kabul, while others may be deployed to protect the capital’s airport alongside Turkish troops, according to reports. source from
Jul 8 - White House press secretary Jen Psaki on Tuesday said that the US intentions are to maintain a continued presence in Kabul despite the US troop withdrawal from Afghanistan.
“Well, first, I would say that we have every intention of continuing an ongoing presence in Kabul, which is continuing even after we bring our military, who are serving, home by the end of August,” Psaki said.
“But we will also continue to be partners to the Afghan government. That’s something that the President reiterated when he met with leaders just a week and a half ago. That we — that includes security assistance, that includes humanitarian assistance, and that includes over-the-horizon capacity to ensure that we are working to address any threats that we face.”
“That will continue, and we intend to have a presence on the ground in our embassy there in Kabul,” she further said.
On the American troops withdrawal announcement by Joe Biden in April, she said: “if you take us back to when the President made this decision and announcement: We he asked his team to do a clear-eyed assessment, not to sugarcoat it, of what the impact could be, of moving withdrawing our troops from Afghanistan after a 20-year war a war that the President continues to feel does not have a military solution.”
“What the President is continuing to press on is a political solution and political negotiations and discussions, which we hope will reconvene soon, to move toward a political solution on the ground to bring greater peace and stability to the people of Afghanistan. That’s his hope,” he added.
This comes as the US has completed “more than 90 percent” of its withdrawal from Afghanistan, the United States Central Command (CENTCOM) confirmed in a statement on Tuesday.
and coalition forces left Bagram Airfield last week, which for nearly 20 years was the largest US base in Afghanistan. About 650 troops are expected to remain to protect the US Embassy in Kabul, while others may be deployed to protect the capital’s airport alongside Turkish troops, according to reports. source from
US extends Hong Kong emergency rules citing China squeeze on the city
Jul 8 - Beijing’s tightening control over Hong Kong continues to pose an “extraordinary threat” to the United States’ security and interests, US President Joe Biden declared on Wednesday, as he extended a national emergency designation put in place by his predecessor one year ago.
“The situation with respect to Hong Kong, including recent actions taken by the People’s Republic of China to fundamentally undermine Hong Kong’s autonomy, continues to pose an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States,” Biden wrote in a notice announcing the extension.
“For this reason, the national emergency declared on July 14, 2020, must continue in effect beyond July 14, 2021”... more
- Sweeping sanctions power renewed by President Joe Biden who accuses Beijing of fundamentally undermining Hong Kong’s autonomy
- Situation poses ‘unusual and extraordinary threat’ to US national security, foreign policy and economy
Jul 8 - Beijing’s tightening control over Hong Kong continues to pose an “extraordinary threat” to the United States’ security and interests, US President Joe Biden declared on Wednesday, as he extended a national emergency designation put in place by his predecessor one year ago.
“The situation with respect to Hong Kong, including recent actions taken by the People’s Republic of China to fundamentally undermine Hong Kong’s autonomy, continues to pose an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States,” Biden wrote in a notice announcing the extension.
“For this reason, the national emergency declared on July 14, 2020, must continue in effect beyond July 14, 2021”... more
Notice on the Continuation of the National Emergency with Respect to Hong Kong
JULY 07, 2021•PRESIDENTIAL ACTIONS
On July 14, 2020, by Executive Order 13936, the President declared a national emergency pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 etseq.) to deal with the unusual and extraordinary threat to the national security, foreign policy, and economy of the United States constituted by the situation with respect to Hong Kong.
The situation with respect to Hong Kong, including recent actions taken by the People’s Republic of China to fundamentally undermine Hong Kong’s autonomy, continues to pose an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States. For this reason, the national emergency declared on July 14, 2020, must continue in effect beyond July 14, 2021. Therefore, in accordance with section 202(d) of the National Emergencies Act (50 U.S.C. 1622(d)), I am continuing for 1 year the national emergency declared in Executive Order 13936 with respect to the situation in Hong Kong.
This notice shall be published in the Federal Register and transmitted to the Congress. source from
JULY 07, 2021•PRESIDENTIAL ACTIONS
On July 14, 2020, by Executive Order 13936, the President declared a national emergency pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 etseq.) to deal with the unusual and extraordinary threat to the national security, foreign policy, and economy of the United States constituted by the situation with respect to Hong Kong.
The situation with respect to Hong Kong, including recent actions taken by the People’s Republic of China to fundamentally undermine Hong Kong’s autonomy, continues to pose an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States. For this reason, the national emergency declared on July 14, 2020, must continue in effect beyond July 14, 2021. Therefore, in accordance with section 202(d) of the National Emergencies Act (50 U.S.C. 1622(d)), I am continuing for 1 year the national emergency declared in Executive Order 13936 with respect to the situation in Hong Kong.
This notice shall be published in the Federal Register and transmitted to the Congress. source from
NBC Nightly News Broadcast (Full) - July 7th, 2021
Jul 8, 2021
Tropical Storm Elsa moves north after landfall on Florida’s west coast, Haitian President Jovenel Moïse assassinated in attack at his home, and Delta variant becomes dominant Covid strain in the U.S.
Jul 8, 2021
Tropical Storm Elsa moves north after landfall on Florida’s west coast, Haitian President Jovenel Moïse assassinated in attack at his home, and Delta variant becomes dominant Covid strain in the U.S.
