Still, Cardin said Congress might have to increase appropriations to account for the lost buying power - something Democrats might not have the power to do, if the midterm elections go as expected. “It certainly won’t go as far as we would like it to, but we meet every year. “It was a once-in-a-generation increase in resources,” said Sen. “Roads, bridges, airports, water projects.”ĭemocrats counter that despite inflation’s impact, the investment is still historic and people are excited for the cash infusion. “I’ve heard in Wyoming that they thought they were going to be able to do a lot more than they’re going to be able to do now under Joe Biden’s inflation, which is a real problem for them,” said Barrasso.
John Barrasso (R-Wyo.), who until recently led Republicans on the Senate Environment and Public Works Committee, told POLITICO that people in his state are feeling the pinch. And workers - if you can find them and keep them - are commanding higher pay. Since the bill’s passage, the price of diesel fuel, which is needed to ferry stone from quarries, which will eventually be turned into concrete and asphalt, has gone up by about $2 a gallon, an increase of more than 50 percent. It came down briefly after that but is back near its highest point ever. Materials’ prices were already on the rise even before inflation hit levels unseen in decades in May - for instance, the price of steel doubled in the year before Biden signed the Infrastructure Investment and Jobs Act in November 2021. … The buying power of is absolutely being diluted.” “We’re going to spend a lot more money for fewer projects.
“If doesn’t slow down, we’re just going to end up eating into the capacity of getting more infrastructure done,” said Robert Scaer, CEO of the global engineering firm Gannett Fleming.
In North Carolina, for instance, despite the gusher of cash coming out of the federal government, state officials will add new projects to their long-term infrastructure plans only if they replace existing ones.
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