It would also diminish gross domestic product (GDP) by almost 3 percent over the next decade, the equivalent of putting the entire U.S. economy on pause for a full year.

These bank failures were the direct result of policymakers' decisions over the last 5 years, beginning with a 2018 law signed by President Trump.

But caving into Republican demands for massive cuts would be no less disastrous: austerity would trigger a year-long recession and put 2.6 million people out of work.

In 2018 though, Trump's bank deregulation law and the door it opened for Fed Chair Powell to further hack away at the rules created an exception to annual Fed-administered stress tests, letting banks from $50 billion to $250 billion…

House Republicans are holding the U.S. economy and millions of workers hostage by threatening not to raise the debt limit unless Democrats agree to massive cuts to critical government programs.

The Biden administration has made historic investments in our infrastructure, including through the Infrastructure Investments and Jobs Act.

The bridges are vital assets for the Cape Cod economy but they are in desperate need of replacement.

I am committed to making sure that that happens, both in Massachusetts and all around the country.

We need Federal funds.

However, according to the Federal Highway Administration nearly 69,000 highway bridges--that is more than 1 out of every 10 highway bridges in the whole country--are currently classified as 'structurally deficient.'

President Biden called on Congress and regulators to strengthen the rules for banks to make it less likely that this kind of bank failure will happen again.