'Sausage making not pretty' -WH on infrastructure plan

05 Juin, 2021, 07:02 | Auteur: Therese Cote
  • Do Two Democratic Senators 'Vote More' With Republicans?

Republicans in 2017 passed tax legislation that set the corporate tax rate at 21%.

Biden has offered to slash his initial proposal of about $2.3 trillion to $1.7 trillion, while Republicans countered last week with a $928 billion proposal - which constitutes about $257 billion in new funding. Instead, the president offered to pay for the infrastructure plan by imposing a higher global minimum rate of 15% on us companies' foreign earnings.

For now, the president instead shifted focus to a provision in his infrastructure proposal which would amount to a new minimum corporate tax of 15 percent, as well as a proposal to increase enforcement on corporates and wealthy earners who use loopholes to lower their tax bills.

"This should be completely acceptable to a number of Republicans who have said their bottom line is leaving the 2017 tax law untouched", White House press secretary Jen Psaki said Thursday.

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A source told the Washington Post that Republican leaders are weighing whether to make another counteroffer or to step away from the table entirely.

Meanwhile, Psaki said Thursday that Biden has "absolutely not" changed his belief that Congress should raise the corporate tax rate. No, senator, it would be an antidote to the crass obstructionism practiced by Senate Minority Leader Mitch McConnell (R-Ky.) and the GOP caucus he so tightly controls. She said it is a critical way to "pay for a range of the bold proposals that he has put forward".

Asked during an interview with NBC News whether he supported using budget reconciliation, an obscure Senate tool that would allow Democrats to approve legislation using their slimmest-possible majority, to pass an infrastructure bill Manchin said: "No, I don't think you should". There might even be instances when a few Democratic defections are more than offset by minor Republican support.

While Manchin and Sinema may not toe the party line on every issue and have records more bipartisan than many of their colleagues, it is false for Biden to claim that the pair have voted with Republicans more often than Democrats during his presidency.



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