Shant Boyajian Quoted on Bipartisan Infrastructure Spending Bill

07.07.2021
Inframation

Shant Boyajian was quoted in the Inframation article, "News Analysis: Optimism Over Bipartisan Infrastructure Bill Clouded by Revenue Concerns." The article examines how the bipartisan bill, which would add $579 billion in infrastructure spending, shows promising signs for investors—and conversely, how optimistic assumptions about spending offsets have made some observers curb their enthusiasm.

Commenting on the topic, Shant said that he is "encouraged by the bipartisan support for additional spending [on infrastructure], including support for overlooked sectors like water infrastructure ($55 billion) and broadband infrastructure ($65 billion). But [I’m] less optimistic regarding the viability of the proposed sources of revenue to pay for these investments."

For example, Shant discussed how the plan’s framework touts the "macroeconomic impact of infrastructure investment" under its proposed financing sources—which some market observers are skeptical about. He said, "The argument is that spending for infrastructure produces a positive impact on job creation and its potential for expanding the economy should be considered in the federal budget scoring process…However, the Congressional Budget Office has not agreed with that argument."

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