All things considered, the downside to the infrastructure bill being passed BEFORE the bigger reconciliation bill (which Pelosi promised to do, but then broke her promise last night) is that the reconciliation bill is now pretty much dead.
This is why the progressives voted against the infrastructure bill, last night. Because they knew that once infrastructure passed, all leverage for passing reconciliation was lost.
Reconciliation is the bill that contains the real muscles that would have truly powered our transition to EV. A staggering $200 billion just for renewables alone.
As it is, hopefully the passage of infrastructure has a solid psychological effect on the market and moves the needle on Li stocks.
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