(ReliableNews.org) – When Joe Biden ran for president he said that he was going to end then-President Donald Trump’s tax cuts. Now that he is commander-in-chief, the Democrats have a plan to do just that. However, Republicans aren’t going to take it lying down.
On April 13, Senate Minority Leader Mitch McConnell (R-KY) said that Biden’s massive infrastructure proposal is going to face tough opposition if it includes a plan to raise taxes. The president has said he will pay for the spending with an increase in the corporate tax rate. McConnell explained that increasing taxes would “create an extensive loss of jobs” and move the USA in the “wrong direction.”
The Senate leader has also called the proposal a “slush fund” for the Left.
There is a bipartisan appetite for smart infrastructure bills. In fact, all the multi-year highway bills have been bipartisan going back decades.
There isn’t an appetite for using the word “infrastructure” to justify a multi-trillion-dollar slush fund for unrelated bad ideas.
— Leader McConnell (@LeaderMcConnell) April 13, 2021
The Tax Foundation has predicted the tax increases will shrink the economy and slash jobs. Raising taxes on the job creators during a pandemic is a terrible idea. Hopefully, Republicans are able to stop that from happening.
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