- July 8, 2021
- Posted by: Stratford Team
- Category: Economy
President Biden and his team have entered a “do more with less” phase of his economic agenda, dictated by the political realities of a closely divided Congress.
The American Jobs Plan that Mr. Biden unveiled in March included $330 billion in new spending that the administration promised would replace every lead drinking pipe in America, connect every home to high-speed internet and build 500,000 charging stations for electric cars and trucks.
The compromise agreement that Mr. Biden struck with centrist senators last month would still accomplish all of those goals, White House officials insist — even though it spends only about 40 percent of what Mr. Biden initially proposed for broadband, electric vehicles and water infrastructure.
Biden aides say they have found creative ways to stretch federal dollars, often by leveraging private investment, in order to maintain the president’s top goals for his economic program. But they have had to scrap other…