What is a capital plan?

Capital plan is one of those terms you’ve undoubtedly seen before, likely with a year range tacked on beside it. You probably skim over the phrase when reading an article, in this very newsletter perhaps, and have a vague understanding of what it means. 

But what is it actually, and why is it important? Where does the money come from? And how does it relate to the yearly budget or the election? In today’s Explainer, we’ve got the answers. 

What is it?

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