The economics of the proposed spending on two major infrastructure bills, along with a debate about increasing debt settlement, is playing out in Congress.
Three different but important things h -pen. The first is the $ 1.2 trillion physical infrastructure bill that the Senate passed and is awaiting action in the House of Representatives.
The second is the broader $ 3.5 trillion Human Infrastructure Act, which is much of President Joe Biden’s political agenda. This move is based on concerns from Senator Kyrsten Sinema, D-Ariz., And Senator Joe Manchin, DW.Va.
Third, Congress has yet to increase debt payments to -prove borrowing for previous expenses. The deadline for this is early December, and if Congress doesn’t raise the debt, it could wreak havoc in global financial markets. For now, Senate Republicans want Senate Democrats to pass this provision without their support.
How will any spending proposed by Congress affect the country and Arizona’s economies?
On this week’s episode of The Gaggle, a podcast about Arizona politics, presenters Yvonne Winget Sanchez and Ronald J. Hansen speak with Arizona State University economics professor Dennis Hoffman. He breaks down how the proposed long-term investments could affect the Arizonans.
Listen to the episode
The best way to listen is to subscribe to The Gaggle on your favorite podcast -p, but you can also stream the full episode below.