Latest Updates: Related to Inflation

Infrastructure Deadline Punted to Halloween


By Tom Kozlik, Head of Research of Analytics

The new target deadline for Democrats to vote on the $1.2 trillion bipartisan infrastructure plan is Oct. 31. This date coincides with the shifted Surface Transportation Authorization deadline, which was temporarily extended for 30 days over the weekend.

Progressive Democrats are still linking the passage of the bipartisan plan to their $3.5 trillion social spending Build Back Better agenda. The idea of potentially reducing spending to just over $2 trillion was floated Friday, despite West Virginia Senator Joe Manchin saying his ceiling is $1.5 trillion.

Now Democrats have a few more weeks to negotiate within their party. Lawmakers will need to decide if they will be required to drop lower priority programs, simply reduce the number of years for which they are effective, or make other changes to reduce their cost. Either way, it is possible the public finance related elements could be pared back.
Additionally, the Oct. 18 debt ceiling deadline remains, therefore lawmakers will need to act on this soon.

The paper/commentary was prepared by HilltopSecurities (HTS). It is intended for informational purposes only and does not constitute legal or investment advice, nor is it an offer or a solicitation of an offer to buy or sell any investment or other specific product. Information provided in this paper was obtained from sources that are believed to be reliable; however, it is not guaranteed to be correct, complete, or current, and is not intended to imply or establish standards of care applicable to any attorney or advisor in any particular circumstances. The statements within constitute the views of HTS as of the date of the document and may differ from the views of other divisions/departments of affiliate Hilltop Securities Inc. In addition, the views are subject to change without notice. This paper represents historical information only and is not an indication of future performance.
This material has not been prepared in accordance with the guidelines or requirements to promote investment research, it is not a research report and is not intended as such. Sources available upon request.
Hilltop Securities Inc. is a registered broker-dealer, registered investment adviser and municipal advisor firm that does not provide tax or legal advice. HTS is a wholly owned subsidiary of Hilltop Holdings, Inc. (NYSE: HTH) located at 717 N. Harwood St., Suite
3400, Dallas, Texas 75201, (214) 859-1800, 833-4HILLTOP.
© 2021 Hilltop Securities Inc. | All rights reserved | MEMBER: NYSE/FINRA/SIPC

Learn More From HilltopSecurities


Tom Kozlik Discusses Recent Flows into Municipal Bond Funds and Proposed HEALS Act on CNBC’s The Exchange


A Women’s Roundtable: The Rising Stars of the Municipal Finance Industry

Thank you for visiting the HilltopSecurities website.
For best viewing experience, we recommend using Chrome, Firefox, Safari, or Microsoft Edge.