Since the BIL passed, state and local capital investment has rebounded and returned to pre-pandemic levels. The two-year increase in state and local capital investment as a share of state and local spending—1.6 percentage points—is the largest since 1979.
Last month, I fulfilled a boyhood dream and visited Tanzania on safari. It was unforgettable, but I must say, there is nothing like visiting another country to make you appreciate home.
