Senate Minority Leader Mitch McConnell stated on Monday that he does not expect any Republican senators to back President Joe Biden’s $4 trillion plans.
“If they can’t get all their ducks in a row, to use reconciliation again they’ll have to have every single Democrat in the Senate, all of them, in line, in lockstep, in order to do that. A number of them are saying they agree with us,” McConnell said at a press conference. “I think it’s worth talking about, but I don’t think there’ll be any Republican senators, none, zero, for the $4.1 trillion grab bag, which has infrastructure in it, but a whole lot of other stuff.”
McConnell discussed the 2017 tax bill, which lowered the corporate tax rate to 21 per cent, stating, “We’re not willing to pay for [Biden’s legislation] by undoing the 2017 bill.”
“We’re open to doing a roughly $600 billion package which deals with what all of us would agree is infrastructure and to talk about how to pay for that in any way other than reopening the 2017 tax reform bill, which I believe – and all of my members believe – is what created, as of February 2020, the best economy in 50 years,” McConnell told reporters.
Fox News reported that a number of moderate Republican senators, led by Senator Shelley Moore Capito, have called for an infrastructure project that would cost $568 billion. White House Press Secretary Jen Psaki said that the proposal was the “beginning of a discussion on bipartisan legislation.”
Biden has laid out two plans for major investment in key economic sectors last week. The “American Families Plan” is expected to cost $1.8 trillion, and includes massive investments in families, education, expanding the Child Tax Credit, and creating the Child and Dependent Care Tax Credit, which would allow families to receive up to half of their child care spending as credit on their taxes.
Biden’s “American Jobs Plan” has been touted as an infrastructure package, but it covers many sectors and is projected to cost $2.7 trillion.
The White House issued a statement detailing the plan, saying, “this is no time to build back to the way things were. This is the moment to reimagine and rebuild a new economy. The American Jobs Plan is an investment in America that will create millions of good jobs, rebuild our country’s infrastructure, and position the United States to out-compete China.”
The plan includes investments in transportation infrastructure, drinking water, care economy, schools, VA hospitals, and federal buildings, manufacturers and small businesses, and workforce development.