President Trump’s proposed infrastructure bill fell flat this Congress because the price was too high. With trillion-dollar annual budget deficits projected indefinitely, Republicans were never going to approve the major federal funding needed to upgrade the nation’s deteriorating infrastructure. Unless Democrats take control of both houses of Congress, the politics are unlikely to change. But that need not prevent investment in infrastructure renewal. State and local governments are sitting on hundreds of billions of dollars...

Source: Wall Street Journal October 21, 2018 18:44 UTC