Senator Bill Cassidy touted a 1.2 trillion dollar bipartisan infrastructure agreement ahead of an expected vote on the bill Tuesday.
Cassidy worked with the bipartisan team of lawmakers to craft the legislation that is largely paid for by redirecting budgeted but not spent COVID-relief funds and generating new revenue from the wealthy and some businesses.
The state’s senior Senator celebrated the bill and sounded confident ahead of the vote, calling it a big win for Louisiana.
“There will be six billion dollars going to Louisiana for roads and highways, and in the first year of enactment Louisiana will receive an extra 375 million dollars for roads and highways,” said Cassidy.
Louisiana’s junior Senator, John Kennedy, opposes the bill and disputed the six billion dollar figure, arguing instead it is closer to 1.2 billion dollars in money above what we were already expected to receive from the feds.
Cassidy contested much of Kennedy’s argument, including claims that the bill is “infrastructure, the Green New Deal, and welfare”. Cassidy said while there are many aspects of the legislation that would not fall under traditional definitions of hard infrastructure they are nevertheless vital investments. He noted the plan includes 55 billion for broadband expansion, 25 billion for airport improvement projects, 45 billion dollars in environmental resiliency, and 65 billion dollars in grid hardening.
“When I flew over Southwest Louisiana and saw huge steel superstructure with powerlines draped over them, just crushed after the last hurricane, I thought of this money,” said Cassidy.
The bill also reforms the permitting process with the goal of reducing permitting times for major construction projects from about six years to two years and authorizes but does not provide funding for an I-14 east-west interstate running through central Louisiana.
Kennedy called the bill an unfunded “inflation bomb”, but Cassidy said the projected 250 billion dollars in deficits it would result in will be offset by long-term economic growth.
“In 30 years it will increase the size of the economy and decrease the debt and deficit because that increased size of the economy generates more tax dollars without raising taxes,” said Kennedy.
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