Democrat Infighting Ensues over $2.4 Trillion Tax Increases Within Trojan Horse ‘Infrastructure’ Package – JP
Congressional Democrats are infighting this week over Sen. Bernie Sander’s (I-VT) reported desire to levy $2.4 trillion in taxes within the trojan horse “infrastructure” package.
“They’re all trying to figure out what the bottom line is,” said a source familiar with the infighting told the Hill. “Schumer had $2.4 trillion [in tax revenues] plus $600 billion from the Medicare drug-price negotiation. He’s trying to figure out: ‘What can I get my caucus to support? What’s the revenue number?’ It’s not clear to me he can get $3 trillion.”
“There’s a lot of pressure on these people, pressure from both sides. Manchin has been very clear he wants it all paid for,” the source explained about Sen. Joe Manchin’s (D-WV) negotiations with the White House over President Joe Biden’s 28 percent desired corporate tax rate, compared to Manchin’s counter at 25 percent.
Senior fellow at the Institute on Taxation and Economic Policy Matthew Gardner also told the Hill Biden will most likely buckle to Manchin’s demands.
“Biden hasn’t explicitly said he said he’s changing the plan to 25 percent, which is what Joe Manchin wants,” Gardner said. “But the hard reality of narrow majorities in both houses is that if Manchin says 25 percent that’s kind of the [limit]. So that seems like the most likely thing where you can say it’s going to be different from what [Biden] proposed initially.”
The infighting among Democrats could “complicate plans to pass a budget resolution in the House and Senate this month to set up” the trojan horse infrastructure bill, Bloomberg reported Monday, while Sanders’ Senate Budget Committee is planning “a $6 trillion proposal covering Biden’s agenda as well as an expansion of Medicare,” global warming initiatives, suburb displacement with low-income housing, along with other radical items.- READ MORE
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