It will be expensive.
And cause controversy.
President Biden and Congressional Democrats are preparing trillions of dollars in new spending for large-scale infrastructure projects.
Supporters praise the proposal as a bold investment in the future, but opponents call it an expensive cousin of the Green New Deal.
Part of this plan is called the “THRIVE Act.” It stands for “transformation, healing and renewal by investing in a vibrant economy”.
“” The THRIVE Agenda will invest USD 1 trillion a year in the next 10 years. As a result, $4 trillion was spent during the first term of the Biden-Harris administration. “
This level of spending has shocked many Republicans-Congress has spent as much as $6 trillion in pandemic response and relief funds in the past 1
Senate Minority Leader Mitch McConnell (Ritchy) said: “Even after taking action last year, our national debt has reached the size of our economy, which has never happened since World War II.”
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The Democratic Party’s plan goes far beyond conventional infrastructure, such as repairing or replacing deteriorating bridges and highways in consideration of climate change and other impacts.
Transport Minister Pete Buttigieg told CNN: “You cannot distinguish the climate part from this vision, because every road we build, every bridge we build, can be better for the climate. Or a worse way to do this.” “Why don’t we want to create these jobs in a better way for the climate?”
The Democratic Party’s plan also intends to solve the problem of social inequality.
“If you do not have clean water, then you cannot be free. If you do not have clean air, then you cannot be free. If you do not have a community, it is sustainable development, then you will not have freedom. If you do not have Work with dignity. If you don’t have basic medical care,” D-Calif Rep. Ro Khanna said.
Ed Markey stated that the plan would “combat systemic racism” and “protect public health.” But Republicans took the bill a different story.
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Rep. Kat Cammack said: “This is a list of Biden and Nancy Pelosi’s liberal, left-wing agenda items. This is the Green New Deal. This is universal medical services, all of which are packaged into one, and you And I paid the price for it.”, R-Fla on Fox News.
Republicans accused Democrats of trying to advance liberal policy goals under the guise of a typical bipartisan infrastructure bill.
Trump’s former White House chief of staff, Mark Meadows, protested against Fox Business: “This is a Trojan horse designed to make a variety of progressive, left-leaning agendas. The project passed Congress under the auspices of new roads and bridges.”
Biden made it clear that the bill will increase tax rates for large companies and the wealthy.
White House spokesperson Jen Psaki said: “The responsible approach is to propose a payment method over time.” “He also believes that there is still a lot of work to make the corporate tax law fairer. To do.”
PSAKI stated that the White House will work with the GOP on the infrastructure bill because DEMS is preparing to block the partisan vote
According to the proposal, the corporate tax rate may jump from 21% to 28%, thereby raising approximately US$700 billion. The tax cuts implemented by former President Donald Trump will be cancelled, and the highest personal tax rate for people with an annual income of more than $400,000 will be restored to nearly 40%.
“the goal [of Democrats] A critic, Chairman of the American Action Forum and former congressional budget director Douglas Holtz Ekin said: “We are not asking the family to figure out whether to save for retirement or take a vacation.”
Holtz-Eakin argued that the Democratic Party’s strategy is to “firstly have elected officials and then agencies control the money to determine its role in the economy.”
The Democrats should have supported tax law reform long ago.
Pramila Jayapal, co-chair of the Progressive Caucus and a Democrat in Washington, DC, said: “Infrastructure can pay for itself.” “…But the goal is to make the tax system fair and just.”
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Long and lengthy slogans on huge infrastructure bills may reveal rifts in the Democratic Party, especially when dealing with the majority of members of the House of Representatives and Senate.
Democrats can only pass this bill together, but there are already signs that the moderates on the one hand and the moderates on the other are in trouble.
For example, Representative Alexander Ocasio-Cortez (DN.Y.) called for a more comprehensive infrastructure bill at this week’s town hall meeting.
Passing the infrastructure bill will be a daunting task. Initially there was a discussion about voting before Memorial Day. Now, July 4th is coming. A more realistic estimate is seven to eight months.
Pelosi declined to disclose the timetable, saying this week that she will deliver the package in advance when it is “ready.”
The bill may be the largest congressional dissolution since Roosevelt’s New Deal plan in the 1930s. The Democrats can only retain three votes on their side, and the bill can still be passed in the House of Representatives without Republican assistance. The Senate split at a 50/50 ratio, and Vice President Kamala Harris voted the casting vote.
Bringing the Democrats together will be a heavy burden. Representative, DN.J. Bill Pascrell, DN.J. Josh Gottheimer of DN.Y. and Tom Suozzi of DN.Y. are already working to restore state and local tax (SALT) deductions. The Trump tax law provides for deductions in high-tax states.
The lawmaker said in a statement: “New York and New Jersey are the largest net contributors to the federal government, and their annual contributions exceed the amount we receive.” “As a result, we will not accept any changes to the tax law. These changes will not restore the reduction in SALT and bring fairness back into the system.”
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The tasks facing the Democratic Party are reminiscent of Obamacare in 2009 and 2010. The committee’s mechanism began in the spring of 2009. The House of Representatives approved the first version of the bill in November 2009; the House of Representatives approved the first version of the bill in November 2009. The Senate passed it on December 24. The House of Representatives and the Senate did not pass the final unified version of the bill until March 2010.
This time, Democrats may experience legislative fatigue. They enacted six major bills to deal with the pandemic, which reached a $1.9 trillion relief package a month ago.
This is a problem for Democrats: if the bill is too big, they may face internal opposition from moderates. If they abandon progressive policies, they will lose liberals.
The potential solution is to reduce the package to the old infrastructure and gain bipartisan support.
President Clinton was prematurely in charge of the health care bill and burned his political capital. President Obama did almost the same thing, passing the stimulus package early in his term. Parliamentarians are already approving the TARP bill to save the economy, which was surprising in the fall of 2008. This is why the Obamacare bill has been so successful.
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Even FDR has encountered problems in advancing the New Deal. In the late 1930s, many of his loyal supporters in Congress took other actions.
Darrell West said: “Presidents have limited political capital. Usually, if they are lucky, they can do one thing, two things or three things. People start to get tired, especially when you spend a lot of money. Time.” A member of the Brookings Institution.
“member [of Congress] Only a few tough votes can be accepted. They may be willing to do the first and second. But in the end it caught up with them. “