Topic: Infrastructure Act

Transportation Secretary Pete Buttigieg addressed the slow rollout of electric vehicle (EV) charging stations funded by the Inflation Reduction Act, with only eight stations built out of a 500,000 goal. Critics argue that the delays are caused by strict DEI and ESG requirements in government contracts, which limit the number of qualifying companies. The administration maintains that the goal of 500,000 stations by 2030 remains on track.

The hosts revisit Joe Biden's 2019 campaign promise to build 500,000 charging stations by 2030. They question where the billions of dollars allocated for this project have gone, noting that Transportation Secretary Pete Buttigieg has struggled to explain the slow progress during recent media appearances.

Clarification regarding rumors that the U.S. government is taking over the internet. President Joe Biden issued an executive order utilizing the Infrastructure Act to instruct the FCC to enforce equity in broadband access, which critics view as a backdoor to Title II regulation without Congressional approval.

Janet Yellen touts the Bipartisan Infrastructure Act and the CHIPS Act as catalysts for an "industrial renaissance" in the U.S. John Dvorak challenges this, noting the lack of visible infrastructure improvements or new factories in his region. The hosts also debate the true U.S. debt-to-GDP ratio, questioning Yellen's "weaselly" use of the term "federal debt" to arrive at a sub-100% figure.

The National Cybersecurity and Critical Infrastructure Protection Act of 2014 mandates information sharing between the government and private sectors, including chemical, energy, and financial services. Section 205 of the act ostensibly prohibits the collection of data for the purpose of "tracking" individuals' personally identifiable information. However, analysts suggest the language is "nefarious," potentially allowing for monitoring and exfiltration as long as it is not explicitly defined as tracking.

The American Jobs Act includes the creation of the American Infrastructure Financing Authority (AIFA), a government-backed investment bank. The legislation allows for projects with a "BBB minus" investment grade rating to receive federal financing, which is a lower standard than traditional high-grade investments. Loans for these projects feature 35-year repayment terms starting only after the substantial completion of construction.

Valerie Jarrett and President Obama have repeatedly called for Congress to "pass this plan right now," despite the legislation not being drafted until the following week. The hosts highlight the absurdity of demanding the immediate passage of a bill that does not yet exist in written form.

President Obama admitted during a jobs forum that "shovel-ready" projects funded by the 2009 stimulus package were not as ready as initially expected. Delays in the permitting process and regulatory hurdles prevented many infrastructure projects from starting quickly enough to impact the immediate economic crisis. This admission is seen as a significant walk-back of a key promise made during the promotion of the Recovery Act.

The discussion turns to the "GRID Act" in Congress and historical EMP events like the 1962 Starfish Prime test and the 1989 Quebec solar storm. The hosts debate whether the decentralized nature of the U.S. power grid makes it more or less vulnerable to a total blackout. They conclude that the Carnival Splendor incident is being "swept under the rug" to avoid public panic about infrastructure security.

The U.S. Senate is considering the Cybersecurity Act, which includes language granting the President the authority to declare a "cybersecurity emergency" and potentially trigger an internet "kill switch." The hosts speculate that companies like Cisco may have built-in mechanisms to facilitate such a shutdown.