Jake Medwell recently took some time out to discuss some aspects of changing legislation out of Washington. This is important for a number of reasons. But one of the most significant aspects is that Jake Medwell has a strong understanding of some complex scenarios.
He notes that much of the Washington discourse has involved the definition of infrastructure. One might assume that this means physical construction. However, Medwell points out that Democrats are largely arguing from a position where social programs in support of healthcare, education, and similar issues are considered human infrastructure.
Jake Medwell also notes that this phrasing is one of the larger impediments to bipartisan support. Republicans prefer infrastructure to only focus on physical improvements such as highways or broadband. On top of this, Republicans are also traditionally against anything which would involve tax hikes. So broader range of action for infrastructure plans by Democrats usually faces a heavy battle for real cross-party support.
Medwell warns that this might even result in no real policy change for infrastructure in the upcoming year. With extensions, this might move the next likely window for the FAST Act to 2023. The other issue which carries the extra potential for complicating matters is the climate policy. This is a serious concern with the current administration. And it could force big changes onto both trucking and passenger vehicles. But if the FAST Act is just extended it would remove the potential for measures added on a statutory level.
Medwell closes by mentioning that the Biden plan proposes raising corporate tax rates from 21% to 28%. He believes that recent troubles might cap that at 25%. But that it might even go lower.
Learn more about Medwell: https://medium.com/@jakemedwell/about