Bipartisan Infrastructure Bill includes Trump-backed Privatization Measures

Photo by wes lewis on Unsplash
© Ed’ O Keefe CBS News

Asset Recycling

Asset recycling was a policy passed by Conservative Prime Minister Tony Abbot in 2013 and here’s how it worked. The government would auction off public roads and electrical likes to private companies in exchange for securing funding for new infrastructure. Gary Cohen working with the Trump White House pitched the idea of giving states lump sums of money to sell off public infrastructure to private investors.

Privatization of Public Infrastructure Leads to Price Gouging

In 2012 the city of Bayonne, New Jersey had trouble with aging water and waste management system so they signed a forty year lease with KKR with Suez Environment. Essentially giving control to private companies under the guise of modernizing utilities. But when you give corporations an inch they’ll happily Nickle-and-dime you which is what happened. Residents experienced huge hikes by as much as 13.25% in a year. By 2019 water rates had doubled. To this day the city is experiencing price gouging during the pandemic as one resident with no lawn or grass experienced a jump from $600 to $900.

Public-Private Partnerships

The plan calls for Public-Private Partnerships on road projects, but there’s a major problem. The private investment firms would love nothing more than to commodify a road you take for granted every day which is why they get a sweetheart deal from this bill. And private equity firms from Wall Street salivate at any chance they get to enter an agreement with the government at the expense of the common good. And there are a few ideas of what our infrastructure would look like under this lucrative agreement.

Your money will go towards subsidizing billionaire hedge fund managers.

This Bill Is Not Paid For

The CBO estimates that the Bipartisan Infrastructure Plan which 17 Senate Republicans voted for is NOT paid for. According to Sahil Kapur of NBC News the bill adds $256 billion to the national debt, contradicting narratives from Joe Manchin and Kyrsten Sinema that their bill is responsible while the previous $350 billion reconciliation bill was not.

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ACBC

A person that really enjoys writing about food, culture, politics, justice, climate change, relationships, and other interesting topics.