McConnell excludes GOP help for tax hikes to pay for infrastructure
[Ensure you have all the info you need in these unprecedented times. Subscribe now.]
Senate Minority Chief Mitch McConnell mentioned there was no probability Republicans would again tax will increase to pay for President Joe Biden’s infrastructure plan, leaving Democrats to attempt to pressure them – even a bundle.
“I do not assume there shall be any enthusiasm on our facet for a tax hike,” the Kentucky Republican mentioned.
He predicted that Democrats ought to use the identical fiscal maneuver, often called reconciliation, that they used to go Biden’s $ 1.9 trillion stimulus bundle with a easy majority vote. He mentioned he anticipated an enormous infrastructure bundle to be a “Computer virus” that additionally contains tax hikes and different democratic priorities.
RELATED: Biden considers huge tax hike to fund subsequent financial plan, together with infrastructure
Democrats have not dominated out utilizing reconciliation for the infrastructure plan. This could enable them to go a invoice with out Republican help within the Senate, however would restrict it to provisions that have an effect on revenue or spending.
It has been many years since Congress handed a serious bipartisan tax enhance. The gasoline tax, which pays for the roads, has not been elevated since 1993.
Need extra information? Hearken to at the moment’s every day briefing under or click on right here for extra info: