Negotiations continue between President Joe Biden and Senate Republicans on the infrastructure bill that is a part of the American Jobs Plan. Regardless of how the bill shakes out, many are left wondering what the impact of the bill may be. Independent financial advisor Mike Reeves of Strategic Wealth Designers joined us on the newscast to discuss possible effects of the bill on the stock market.
“The bill, also referred to as the INVEST in America Act, would include transportation infrastructure, power infrastructure, and improving clean drinking water and broadband,” Reeves says. “This means we would see bridges, roads, phone networks, and more being revitalized.”
Companies that create materials to build up infrastructure will likely do well as a result of the bill. In addition to the anticipated success of companies involved in building bridges and roadways, companies that create semi-conductors may also see a boost as the digital infrastructure is improved.
“Biden rejected an offer from a Republican negotiator, Senator Capito, on Friday,” Reeves says. “With conversations continuing on Monday, there is still no hard deadline on when we will see this bill be passed into legislation. Senate Democrats are working on a larger infrastructure plan that could be passed as budget reconciliation.”
Budget reconciliation does not have to have any Republican votes to pass into legislation. To see additional stories surrounding business and economic news for the Indianapolis area, visit https://CBS4Indy.com/Strategic-Wealth and if you have a question for Mike send an email to firstname.lastname@example.org.