Several moderate Democrats have raised concerns about President Joe Biden's new tax hikes under the $ 2 trillion infrastructure plan launched in Pittsburgh last week, and margins in the House and Senate are razor thin.
As part of the tax hike proposal for the plan, the corporate tax rate would increase from 21% to 28% and increase the global minimum tax paid by companies from 13% to 21%, among other things.
Let's find a bipartisan way to get an infrastructure deal that will help North Jersey's bridges and roads and move Gateway forward.
But what if there are any changes to the tax codes that affect families? No salt, no deal.https: //t.co/d2HvP3Zz5T
– Rep Josh Gottheimer (@RepJoshG) April 3, 2021
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There are real concerns about the tax hike during a pandemic
Rep. Josh Gottheimer (D-NJ) is one of those moderate Democrats who is raising real problems around such a tax hike. "We have to be careful not to do anything that is too big or too big in the midst of a pandemic and an economic crisis."
Gottheimer also pointed out the importance of such a bill being received on both sides of the aisle and supported by both parties. "This cannot simply be dammed without input and consideration from the other side," he said.
Gottheimer and his democratic compatriot Tom Suozzi (D-NY) naturally also pay attention to their interests at home.
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Fox News reports that both have said they would not vote for tax changes if Democrats did not vote to restore unlimited state and local tax (SALT) write-offs in New Jersey and New York.
The problem? Many on the left see it as a subsidy for the already rich. Or as the left Brookings Institution puts it: "The SALT trigger is a handout for the rich."
Joining Gottheimer and Suozzi are Bill Pascrell (D-NJ), who is also against the depreciation cap, and Rep. Jared Golden (D-ME).
The biggest problem for Biden is that if these Democrats vote against an infrastructure bill, the effort could fail completely.
Axios reports that House spokeswoman Nancy Pelosi can only lose three Democrats. The Senate is, of course, 50% split, and West Virginia Democrat Joe Manchin said he would not support Biden's increase in corporate tax to 28%.
"No salt, no deal!"
Please note the following statement from my colleagues @BillPascrell @RepJoshG and me. pic.twitter.com/uRSJlryXZ8
– Tom Suozzi (@RepTomSuozzi) March 30, 2021
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There is actually some disagreement about taxes among Democrats
Over the weekend, former Michigan Governor and current Secretary of Energy Jennifer Granholm told CNN's Jake Tapper that the Democrats could use the reconciliation process to push through the bill if Republicans didn't cooperate with the infrastructure plan.
Tapper asked if Granholm and Biden were happy to get a bill with zero Republican votes.
Granholm said: “We want to do it non-partisan. You know, if that doesn't happen, he will ultimately be elected to win the future for America and invest in our future. "
If the Senate bill is passed through reconciliation rules, it means only 50 votes are needed, with Vice President Kamala Harris being a groundbreaking vote. But here, too, the Democrats cannot afford to lose a single vote in the Senate.
When asked if Dems' reconciliation will use the infrastructure to pass through, Secretary Granholm told CNN: "That's not the preferred route. We'd like to get 10 Sens on board on the Republican side. But one or other way, I hope they put the pressure on. " it through, bc that's what the country needs "
– DJ Judd (@DJJudd) March 25, 2021
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Highlights of the bill
Joe Biden has described his infrastructure plan as not only addressing the country's infrastructure, but also issues such as climate change and racial inequality.
Some highlights are $ 621 billion for transportation, e.g. B. repairing 20,000 miles of rebuilt roads and repairs to 10,000 bridges.
In addition, $ 174 billion will be used to subsidize the purchase of electric vehicles and the construction of 500,000 electric charging stations.
Approximately $ 213 billion to renovate and equip more than 2 million homes and units. There is also $ 111 billion in lead water line and service line replacement.
In addition to 100 billion US dollars for the construction of new public schools and the modernization of existing buildings, 10 billion US dollars will flow into the so-called "Civilian Climate Corps".
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