Senate Minority Leader Mitch McConnell vowed that the Republican Party would oppose President Joe Biden’s infrastructure plan “every step of the way,” Reuters reports.
Biden on Thursday rolled out the $2.5 trillion “American Jobs Plan” that aims to fund roads, bridges, water systems, green energy, and other government programs that will be largely paid for by tax increases on corporations and the rich.
“I’m going to fight them every step of the way, because I think this is the wrong prescription for America,” McConnell said in a news conference. “That package that they’re putting together now, as much as we would like to address infrastructure, is not going to get support from our side. Because I think the last thing the economy needs right now is a big, whopping tax increase.”
"You're either alarmed about the level of national debt and the future impact of that on our children and our grandchildren or you aren't," he said. "My view of infrastructure is we ought to build that which we can afford, and not either whack the economy with major tax increases or run up the national debt even more."
Voters back plan:
A recent poll found that a majority of voters back Biden’s plan to pay for infrastructure improvements by hiking taxes on the wealthy.
About 57% of voters in a Morning Consult poll said they are more likely to support the plan if it is funded with tax hikes on those making over $400,000.
Americans are fairly evenly split on whether they would be more likely to support it if it is financed with corporate tax hikes.
Democrats are far more likely to support such a plan, with 73% backing tax increases to pay for the plan compared to just 32% of Republicans.
But 42% of Republicans say they support an infrastructure plan without tax increases and just 12% of GOP voters oppose an infrastructure plan.
Dems aim to make big changes;
Key Democrats have signaled that they want significant changes to the bill, making its passage questionable despite Democratic plans to use the budget reconciliation process to pass it with a simple majority vote.
“We will accept some of what he is proposing,” House Ways and Means Chairman Richie Neal, whose committee is responsible for writing tax laws, said in a statement. “If we can improve upon the president’s proposal, we want to do that.”
Some progressives have called for Biden to make a bigger investment in green energy, even calling for a $10 trillion plan over 10 years.
Meanwhile, some Democrats in high-tax states like California, New York and New Jersey want the plan to eliminate a cap on the State and Local Tax Deduction, a tax cut that would primarily benefit the wealthy.