In Our View: Biden infrastructure plan takes right tack on coal

Remigio Civitarese
Aprile 6, 2021

He added that without the support of the Republicans, the Biden administration would not have been able to prevent the remaining measures from being taken separately.

Republican Senator Roger Wicker of MS joined others in his party in trying to cast Biden's plan as a tax hike rather than an effort to fix and rebuild the country's transportation, communications, water and electrical networks.

The proposal would tweak several aspects of President Donald J. Trump's signature 2017 tax law, which created a series of new mechanisms for how the United States taxes multinational companies. Separately on Monday, Treasury Secretary Janet L. Yellen called for global coordination on an worldwide tax rate that would apply to multinational corporations regardless of where they locate their headquarters.

With Manchin and potentially other Democrats out on the bill, its chances of passing are bleak, unless significant alterations are made to how the bill is funded. "And it will not raise a penny tax on a family making less than $400,000 a year. And if the vast majority of Americans, Democrats and Republicans, across the country support spending on our country and not allowing us to lose the race globally, then he's going to do that", Granholm said on CNN's "State of the Union". "It's a huge tax increase", Wicker told NBC's "Meet the Press". Part of the funding formula was a hike to a 28% corporate tax rate from 21% but that's going nowhere. "Come on man", he said.

Republicans opened the door Sunday to supporting a pared down version of Joe Biden's $2 trillion infrastructure plan, saying concentrating on physical improvements would deliver an "easy bipartisan win" for the USA president.

The president is expected to detail as much as $2 trillion more in education, health care and other spending initiatives later this month, much of which would be financed by raising taxes on high-earning individuals. In one example, Biden has said he wants to put pipefitters and miners to work capping wells "at the same price that they would charge to dig those wells".

Roy Blunt chairman of the Senate Republican Policy Committee
Roy Blunt chairman of the Senate Republican Policy Committee

"I'm going to push as hard as I can to change the circumstances so we can compete with the rest of the world", he said.

The presence of Mr.

"I spoke with the White House a couple of times and I said: 'You have an easy bipartisan victory here if you keep this package practically focused on infrastructure", said the Republican official on the network's program.

Mr. Brown said in a statement on the plan that "corporations should pay their fair share, just like OH families do, and they shouldn't get a tax break for shipping workers' jobs overseas".

President Biden has argued that the infrastructure plan aims to create millions of jobs.

Altre relazioniGrafFiotech

Discuti questo articolo

Segui i nostri GIORNALE