Buy these 20 infrastructure stocks set to crush the market as Congress prepares a multi-trillion-dollar deal, Raymond James says
Summary List Placement Talks on a possible infrastructure deal are heating up again after President Joe Biden met with Republican and Democrat Congressional leaders in the Oval Office last week in an effort to gain bipartisan support for a potential package. In February, Biden introduced the $2 trillion plan he aims to pass sometime this year. But Republicans have said they would support a smaller package, worth $568 billion. Dozens of Democrats in the House of Representatives said on Tuesday that they support a $7 trillion deal . Regardless of whether it is bipartisan or not, with Democrats controlling both chambers of Congress and the White House it's widely expected that some sort of deal will be passed. In a recent report, a team of Raymond James strategists led by Tavis McCourt said the most likely outcome is that a $2-$3 trillion deal is passed, though perhaps in multiple parts and with the use of budget reconciliation. "An effort to pass a package with bipartisan support continues to be first priority, but we expect political factors and the likely need to move a reconciliation bill to raise the debt ceiling in the fall to support our base case of $2-$3 trillion vs. a smaller, bipartisan bill in the $1-$1.5 trillion range," McCourt wrote in the note.
Buy these 20 infrastructure stocks set to crush the market as Congress prepares a multi-trillion-dollar deal, Raymond James says
Summary List Placement Talks on a possible infrastructure deal are heating up again after President Joe Biden met with Republican and Democrat Congressional leaders in the Oval Office last week in an effort to gain bipartisan support for a potential package. In February, Biden introduced the $2 trillion plan he aims to pass sometime this year. But Republicans have said they would support a smaller package, worth $568 billion. Dozens of Democrats in the House of Representatives said on Tuesday that they support a $7 trillion deal . Regardless of whether it is bipartisan or not, with Democrats controlling both chambers of Congress and the White House it's widely expected that some sort of deal will be passed. In a recent report, a team of Raymond James strategists led by Tavis McCourt said the most likely outcome is that a $2-$3 trillion deal is passed, though perhaps in multiple parts and with the use of budget reconciliation. "An effort to pass a package with bipartisan support continues to be first priority, but we expect political factors and the likely need to move a reconciliation bill to raise the debt ceiling in the fall to support our base case of $2-$3 trillion vs. a smaller, bipartisan bill in the $1-$1.5 trillion range," McCourt wrote in the note.