Efforts of the President of the United States Joe Biden About a billion dollar infrastructure program suffered a setback. After the talks are in Washington Republican leaders said there would be no tax increase with them. The leader of the Republican minority in the Senate said, “This is our red line.” Mitch McConnell.
Coworker Kevin McCarthy has pointed to the hike in US gasoline prices. United States of America distance Pirate attack on a pipeline. You won’t find a Republican who will raise taxes. In my opinion, it would be the worst thing to do in this economic situation. “
The Republican announcement was not a surprise. The House Majority Leader, Democrat Steny Hoyer, had already said on Tuesday that the Biden administration would not wait long if there was no deal in sight. On Wednesday, when asked how to compromise, Biden quipped: “Snap your fingers.”
Biden wants to finance the infrastructure program by raising taxes
The President of the United States is trying to get nearly $ 2.3 trillion in the infrastructure program and another $ 1.8 trillion in education and childcare through Congress. Biden has announced that, to fund his plans, among other things, he wants to increase the corporate tax from 21 to between 28 and 25 percent. A higher capital gains tax is also planned.
Although the Democrats have a small majority in Congress, they cannot stand a single opposition, especially in the Senate. Because of this, Biden and the opposition leader met Republicans for the first time since then Biden assumed the position in the White House he met.
McConnell said after the meeting that Republicans were not interested in undoing the 2017 tax reform. Controversial reform Under the Donald Trump administration, among other things, tax cuts of up to $ 1.5 trillion. Critics saw it above all Benefits for Rich Americans.