Peterson Foundation Statement on Bipartisan Infrastructure Legislation

NEW YORK — Michael A. Peterson, CEO of the Peter G. Peterson Foundation, commented today as bipartisan infrastructure legislation moved forward in the U.S. Senate:
“It is encouraging that leaders in the U.S. Senate have reached an historic bipartisan agreement to invest in national infrastructure. The ability to work across the aisle to find common ground is an essential part of a functional democracy, and it’s been all too rare in recent years. The fact that lawmakers are pursuing ways to pay for their priorities is also an important recognition of our nation’s unsustainable fiscal outlook, and Congress and the administration should ensure that this new spending is fully funded with transparent, credible offsets.”
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Further Reading
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How Does the United States’ Fiscal Position Compare to Other Countries’?
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The United States Collects Less Tax Revenue Than Other G7 Countries
The U.S. collects less tax revenues compared with other G7 countries, and that lower level of revenues is a key driver of the national debt.