We all want better infrastructure. Here’s how to fund it.

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Tracy C. Miller is a senior policy research editor with the Mercatus Center at George Mason University and the author of a new policy brief, “Infrastructure: How to Define it and Why the Definition Matters.”

President Joe Biden recently announced his support for the bipartisan infrastructure framework, a proposal to spend $1.2 trillion on infrastructure over eight years, with $579 billion in new spending. It includes spending on highways and bridges, public transit, passenger and freight rail, electric vehicle charging stations, airports, water, broadband and power. How to pay is still the subject of considerable disagreement, as are questions about which projects should be prioritized.