It’s going to be expensive.
last year, our national debt became the size of our economy, which hasn’t happened since World War II,” said Senate Minority Leader Mitch McConnell, R-Ky.and congressional Democrats are prepping trillions of dollars in new spending for a sweeping infrastructure plan. While proponents hail the proposal as a bold investment in the future, detractors call it a costly cousin of the Green New Deal. One portion of the plan is called the THRIVE Act. It stands for “Transform, Heals and Renews by Investing in a Vibrant Economy.” “The THRIVE agenda will invest $1 trillion annually 1tenyears. So $4 trillion spent over the first term of the Biden-Harris administration,” said Sen. Ed Markey, D-Mass. That level of spending alarms many Republicans — after Congress has forked out a whopping $6 trillion in and relief over the past 13 months. “Even after what we did
MCENANY BLASTS VP HARRIS FOR NOT VISITING BORDER, TOSING’ POLITICAL GRENADE’
The Democratic plan also intends to address social inequities. “If you can’t have , you can’t be free. You can’t be free if you don’t have access to clean air. If you don’t have a sustainable community to live in, then you won’t be free. Suppose you don’t have a dignified job. If you don’t have basic health care,” said Rep. Ro Khanna, D-Calif. Ed Markey says the plan will “fight systemic racism” and “protect But Republicans frame the bill as something else., such as fixing or replacing deteriorating bridges and highways, considering climate change and other impacts. “You can’t separate the , every bridge we build, we can either do it in a way that’s better for the climate or worse for the climate,” Transportation Secretary Pete Buttigieg told CNN. “Why wouldn’t we want to create these jobs in a way that’s better for the climate?” The Democrats’
SEAN HANNITY:WAGING ‘ALL-OUT ASSAULT ON AMERICAN PRINCIPLES
“This is a Biden and Nancy Pelosi This is the Green New Deal. This is universal , all wrapped up into one, at the expense of you and I,” said Rep. Kat Cammack, R-Fla., on Fox News. Republicans accuse Democrats of advancing liberal policy goals under the guise of a typically bipartisan . “It is a Trojan horse, to get all kinds of progressive, left-leaning agenda items moved through Congress under the auspices of new roads and bridges,” protested former Trump White House chief of staff Mark Meadows on Fox Business. Biden has clearly stated that the bill would for large corporations and the wealthy. “The responsible thing to do is to propose a way to pay for that, over time,” said . “He also believes that more can be done to make the corporate tax code fair.”of liberal, leftist agenda items.
PSAKIAS DEMS PREP TO JAM THROUGH ON PARTISAN VOTE
Under the proposal, the corporate tax rate would likely jump from 21 percent to 28 percent, raising an estimated $700 billion. Tax cuts enacted under former Presidentwould be wiped out, and the top individual rate of nearly 40 percent for those earning more than $400,000 a year would be restored. “The goal [of Democrats] is to bring the resources into the government’s control,” said one critic, Douglas Holtz-Eakin, American Action Forum president and former congressional budget director. “We’re not letting households figure out whether to or take a vacation.” Holtz-Eakin argues the Democrats’ tactic disburses money into “the hands of first, the elected officials, and then the agencies, to determine what it does in the economy.” Democrats support the tax code reforms as long overdue. “Infrastructure pays for itself,” said Rep. Pramila Jayapal, D-Wash., co-chair of the Progressive Caucus. “… But the goal is to make the tax system fair and just.”
GINGRICH: BIDEN LIED ABOUT GEORGIA ELECTION LAW, AND HE OWES THE PEOPLE AN APOLOGY
A long, drawn-out slog on a massive infrastructure bill could reveal Democratic fissures – especially when dealing with narrow majorities in the House and Senate. Democrats can only week that she would advance the package when it’s “ready.”if they stay together, but there are already signs of trouble with moderates on one end and progressives on the other. For instance, Rep. Alexandria Ocasio-Cortez, D-N.Y., demanded an even more sweeping at a town hall meeting this week. Passing the will be a grind. There was initial talk about bringing it to a vote before . Now July 4 is on the radar. A more realistic estimate is seven to eight months. Pelosi has refused to give a timeline, saying this
The bill is perhaps the most significant congressional lift since FDR’s New Deal programs of the 1930s. Democrats can only spare three votes on their side and still. The Senate is split 50/50, with . Getting Democrats to stick together is going to be a heavy lift. Reps. Bill Pascrell, D-N.J., Josh Gottheimer, D-N.J., and Tom Suozzi, D-N.Y., are already pushing to restore the (SALT). The Trump tax law capped those deductions in high-tax states. “New York and New Jersey are the largest net donors to the and annually contribute more than we receive,” the lawmakers said in a statement. “Therefore, we will not accept any changes to the tax code that does not restore the SALT deduction and put fairness back into the system.”
‘FOR BETTER, FOR WORSE’:UNITED IN USE OF BAD SPANISH
The task facing Democrats is reminiscent of Obamacare in 2009 and 2010. The mechanics of the committees began in the spring of 2009. The House approved the first version of the bill in November 2009;,the Senate on Dec. 24. The House and This time, Democrats could be encountering legislative fatigue. They have cranked out six major , culminating in the $1.9 trillion relief package a month ago. Here’s the problem for Democrats:the final, unified understanding of the account until March 2010.
They could face internal opposition from moderates if the bill is too big. If they jettison progressive policies, they lose liberals. The potential solution is to scale the package down to old-fashioned infrastructure and garner bipartisan support. President Clinton burned his political capital too early in his term for abill. President Obama nearly did the same thing, passing a stimulus package early in his time. Lawmakers were already reeling from approving the TARP bill to rescue the economy in the fall of 2008.
That’s why the passage of Obamacare was such an epic lift. Even FDR experienced problems advancing the New Deal. Many of his loyalists in Congress bailed on other initiatives in the late 1930s. “Presidents have only a limited amount of political capital. They can do one, two, or maybe three things if they’re lucky. People start getting tired, especially when you’re spending a lot of money,” said Darrell West of the Brookings Institution. “Members [of Congress] can only take on a small number of tough votes. They might be willing to do the first one and the second one. But eventually, it catches up with them.”