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President Joe Biden and Senate Republicans and Democrats have included $5 billion for Western water projects in their infrastructure deal.
With federal dollars, California could start projects that have been in the works for years, like new dams and reservoirs...as well as modernizations to existing infrastructure to minimize water waste. Additionally, the money could be used to repair major canals, like the Delta Mendota Canal, which would help farmers state-wide.
Speaking to CNBC on Tuesday, Wharton senior economist Jon Huntley said improvements to public capital (roads, bridges and other physical infrastructure) makes private capital (trucks and trains hauling goods for companies) more productive over time.