Federal Government Supports Individuals more than Capital
Macro
Fiscal
Federal Grants to States/Local/Tribal focused on Individuals, not Capital
Not exactly “new” information, but I stumbled across this tidbit this morning.
What caught my attention was how the Federal aid to States and Local governments has shifted away from physical capital towards individuals.
What I would like to explore is how spending on capital infrastructure has changed in other ways. For instance, although the Federal government is providing less spending on capital projects to States/Locals/Tribal, is it spending more directly on such projects? Likewise, are the State/Locals/Tribals able to facilitate spending on capital projects via own-sourced funding?
Source: https://www.whitehouse.gov/wp-content/uploads/2023/03/ap_8_state_and_local_fy2024.pdf