, Columnist
Negotiate Now, Build Soon, Pay Later
Any deal on infrastructure should leave the argument about how to fund it for another day.
The kind of thing politicians like to see.
Photographer: Joe Raedle/Getty Images North AmericaThis article is for subscribers only.
Here’s a modest suggestion for moderate senators looking to work out a deal on infrastructure spending: Don’t worry about paying for it.
The U.S. political system is less gridlocked and dysfunctional than many people think. But there are still profound disagreements between Democrats and Republicans about tax policy. Democrats look at a generation-long run of soaring income and wealth inequality and believe passionately that the most fortunate need to be paying more. Republicans look at a generation-long slowdown in productivity and believe passionately that there need to be incentives for more investment.