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President Joe Biden faces a steep uphill battle to pass his infrastructure bill.

Republicans have balked at its $2.3 trillion price tag, and moderate Democrats aren’t entirely sold on its necessity. The president has held bipartisan meetings to iron out disagreements, but Democrats’ soft deadline of a July 4-passage remains ambitious.

Morgan Stanley, however, is optimistic a deal will be done. It’ll just take some more time.

Economists led by Ellen Zentner expect the president to sign an infrastructure spending package in the fourth quarter of 2021. The plan’s anticipated approval adds 0.4 points to Morgan Stanley’s details ⇒

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