One of the most enduring political narratives of the past four years is that Democrats and Republicans agree on the need to spend more on the nation’s infrastructure. The COVID-19 crisis has intensified this ethos, as President Donald Trump called for a package of up to $2 trillion, while House Democrats just raised a $1.5 trillion gambit of their own. Senate Republicans have so far been skeptical of both approaches. They should be. Spending vastly more on infrastructure, even as a recovery mechanism, will likely not be good for taxpayers or the country as a whole. Much of America’s infrastructure is in decent shape, spending a lot on it won’t necessarily cure economic problems and regulatory reform, not money, will go furthest in fixing the most important problems.
Read the full story here.