WASHINGTON (WOOD) — Whereas Democrats and Republicans say they’re making good progress in reaching a deal to spend money on infrastructure, a sticking level stays how the federal authorities can pay for the plan.
Lawmakers appear optimistic about reaching their objective to strike a deal by Memorial Day.
“We are able to get a bipartisan infrastructure invoice fairly simply,” Sen. Chuck Grassley, R-Iowa, mentioned. “The applications that the president needs are similar to what Republicans need.”
However after assembly with Democratic President Joe Biden about his proposal final week, Republicans in Congress say they won’t help a plan that raises taxes on firms.
“We really feel that the 2017 tax invoice was so good for the economic system that it shouldn’t be messed with,” Grassley mentioned.
He mentioned Congress ought to as an alternative faucet unused COVID-19 response funds, which he mentioned might direct $600 billion to the infrastructure plans.
Not so, Democrats say. Sen. Dick Durbin, D-Unwell., mentioned that whereas there are some leftover funds, it’s not almost sufficient cash to fund an enormous infrastructure plan.
“That will not even care for the state of Iowa,” Durbin mentioned.
He mentioned Republicans ought to get on board with a plan that doesn’t burden middle-class People.
“In case you’re totally for infrastructure, inform us the way you pay for it… They are saying we’re simply coping with person charges, just like the Freeway Belief Fund. The Freeway Belief Fund is stuffed by the taxes that we pay on the pump for gasoline.”
Sen. Josh Hawley, R-Mo., mentioned his primary concern remains to be simply what number of applications Biden included within the plan, lots of which cowl issues not historically thought of infrastructure.
“Do I help elevating taxes to pay for a bunch of welfare spending? I don’t,” he mentioned. “If it’s about holding firms accountable to truly pay their taxes and cease offshoring jobs, then rely me in.”
Republicans are anticipated to introduce their very own infrastructure proposal Tuesday.
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