Politicians can only accomplish anything by stuffing everything into one bill. The “Covid” relief bill was the latest example.
President Joe Biden’s administration is toying around with a $3 trillion infrastructure bill, including a handful of non-relevant items. Granted, Biden’s team described these as “human infrastructure.”
The first part of the plan includes a lot from Biden’s 2020 “Build Back Better” plan. Officials boast the investments “would create 5 million new jobs in manufacturing and advanced industries.”
From The Washington Post:
The infrastructure part of the plan includes hundreds of billions of dollars for repairing the nation’s roads, bridges, waterways and rails. It also includes funding for retrofitting buildings, safety improvements, schools infrastructure, and low-income and tribal groups, as well as $100 billion for schools and education infrastructure.The infrastructure component of the proposal includes $400 billion in spending to combat climate change, including $60 billion for infrastructure related to green transit and $46 billion for climate-related research and development. The plan also would aim to make electric-vehicle charging stations available across the country. The measure would also include $200 billion for housing infrastructure, including $100 billion to expand the supply of housing for low-income Americans.
Human. Infrastructure. This is how the politicians get away with these junk bills:
The second plan under discussion is focused on what many progressives call the nation’s human infrastructure — students, workers and people left on the sidelines of the job market — according to documents and people familiar with the discussions. It would spend heavily on education and on programs meant to increase the participation of women in the labor force, by helping them balance work and caregiving. It includes free community college, universal pre-K education, a national paid leave program and efforts to reduce child care costs.
How do we pay for a $3 trillion infrastructure bill? Biden’s team suggested payment “through initiatives that would reduce spending by as much as $700 billion over a decade, like allowing Medicare to negotiate prescription drug costs with pharmaceutical companies.”
I doubt Biden’s team goes for that one because Democrats won’t reduce spending. They’ll likely go with this one: tax increases on the wealthy!
Oh, not just the wealthy individual. Wealthy households:
The officials have discussed further offsetting the spending increases by raising taxes on high-earning individuals and households, like raising the top marginal income tax rate to 39.6 percent from 37 percent.Administration officials were still debating details of the tax increases late last week. One question is how, exactly, to apply Mr. Biden’s campaign promise that no one earning less than $400,000 a year would pay more in federal taxes under his plan. Currently, the top marginal income tax rate starts at just above $500,000 for individuals and above $600,000 for couples. Mr. Biden proposed raising that rate in the campaign.
Since when does society consider those people millionaires and billionaires? I thought all the rage was going after those who make at least $1,000,000,000 since we all pointed out Sen. Bernie Sanders (I-VT) is worth millions.
The bill will not receive 60 votes in the Senate, even if Biden tries to push it through with the budget reconciliation process. Republicans have no problem with actual infrastructure like “roads, bridges, water and sewer systems.” They have a problem with a lot of the tax increases.
Moderate Democrat Sen. Joe Manchin (WV) already told Biden to work with Republicans. I think Arizona Sen. Kyrsten Sinema feels the same way.
Businesses already balked at higher corporate taxes:
Business groups have warned that corporate tax increases would scuttle their support for an infrastructure plan. “That’s the kind of thing that can just wreck the competitiveness in a country,” Aric Newhouse, senior vice president of policy and government relations at the National Association of Manufacturers, said last month.Administration officials are considering offering to extend some 2017 tax breaks that are set to expire, like the ability to immediately deduct new investments, as part of their plans in order to win over business support.
No matter what we have to realize that the bill will end up close to $3 trillion because the government loves to spend.
Do you realize in a span of only a few months the Biden administration has brought up two bills worth almost $5 trillion?
$5,000,000,000,000.
We have four more years of Biden.
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