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President Biden has proposed a $2.3 trillion infrastructure plan. It moves entirely in the wrong direction by increasing subsidies and centralizing power. A better approach would be to end federal subsidies and decentralize infrastructure ownership and decisionmaking.
Biden’s infrastructure subsidies would go to: 1) federal government assets, 2) state and local government assets, and 3) private assets. The following summarizes Biden’s proposed subsidies for each type of asset and the better reform approach of freeing assets from federal control.
1. Federal Government Assets
Biden would subsidize Amtrak $80 billion. Instead, passenger rail should be privatized and de‐unionized to reduce costs and increase flexibility to run the system efficiently based on consumer needs, not political directives.
The federal government should also privatize the air traffic control system, the U.S. Postal Service, the Tennessee Valley Authority, and its water supply infrastructure. All these assets would be better managed in the private sector supported by user charges.
Click here to view original web page at www.cato.org
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