Michael R. Bloomberg

Democrats’ Spending Bill Is Costly. But Not Passing It Is Far More So.

Congress has never passed a major climate bill. Lawmakers shouldn’t squander this opportunity.

The price of inaction.

Photographer: Ed Jones/AFP/Getty Images

The Democrats’ budget reconciliation bill isn’t perfect. It’s too much of a grab bag of social spending programs, not all of which I support, and not all of which we can afford. But legislating — and governing — requires compromise. The question is not: “Is the bill what I want it to be?” The question is: “Is it, on balance, good for the country?”

To me, the answer is clearly: yes. And the main reason is simple: A large part of it is a historic investment in cleaner air and a stronger, more sustainable economy.