Road officials are open to discussion on how to fund the $ 2 million infrastructure plan
Senior Biden administration officials said they saw room for an agreement corporate taxes the president to pay for a $ 2 million infrastructure plan as Congress pushed for the package to move forward by the end of next month.
“I think we will find a very good and strong agreement space,” Transport Secretary Pete Buttigieg told ABC on Sunday.
“We know that this is entering a legislative process. We will hear from both sides of the aisle, and I think you will find that the president has a very open attitude.”
During a visit to Pittsburgh last week, Joe Biden unveiled his next $ 1 billion economic proposal after passing a $ 1.9 billion fiscal stimulus package last month.
The investment plan proposed by the White House would fund the government with more than $ 2 million in traditional infrastructure, such as roads and bridges. But it also includes large manufacturing subsidies, and plans to tackle climate change with plans to renovate homes and other buildings and facilitate the use of electric vehicles.
The most politically debatable element, however, is financed by the 21% to 28% increase in Corporation Tax and changes in international tax provisions that make it easier for multinationals to lower their tax bills.
Republicans have immediately promised to oppose the plan, and some Democrats, especially those on the moderate wings of the party, will seek to scare away the corporate tax proposal in the coming weeks. The Biden administration promises to keep the details flexible.
“If people think it’s too aggressive, then we’d like to know what their plans are. It’s something we want to have a conversation with,” Brian Deese, director of the White House National Economic Council, told Fox News Sunday.
“But this is a responsible way to pay for major capital investments. It will return multiples in terms of the private investment it will unlock.”
While Capitol Hill negotiations over the infrastructure plan are expected to be more difficult and lengthy than the recently approved stimulus plan, Democrats and the White House are working with the popularity of infrastructure investments to create the political impetus for the plan.
Although Biden has vowed to hold talks with Republicans on the package, he has suggested he is willing to accept it only with Democratic votes despite having a small majority in both houses of Congress.
“The President expects great progress from Congress before Memorial Day [at the end of May]. And we can’t just keep dragging this thing because there’s a need today, ”Buttigieg said.
Republicans call on White House to cancel corporate tax hike, which would undo part of it Donald Trump’s tax cuts that they accepted. They also want to reduce the scope of the plan for brick and mortar infrastructure, funded through public-private partnerships and user fees.
“It would be an easy victory if we went back and explored roads and bridges and ports and airports and maybe even groundwater systems and broadband. You would be talking about less than 30 percent of this package and it’s 30 percent easy to do,” said Roy Blunt Republican senators from Missouri told Fox News Sunday.
Although the White House has tried to persuade Congress to pass its infrastructure plan, top officials have said they plan to introduce another large federal investment package this month, likely worth more than $ 1 million, focused on education and childcare – and funded by a tax increase on the wealthy.