WASHINGTON, D.C. (Texas Insider Report) — "You've got a proposal here of $2.3 trillion, 70% of which cannot by any stretch of the imagination be called 'infrastructure.' That's on top of the $1.9 trillion (COVID relief bill) of a few weeks ago, most of which was not COVID-related," said Mississippi Senator Roger Wicker last weekend, visiting with ABC News ahead of his Monday meeting with President Joe Biden.
"This is a massive social welfare spending program, combined with a massive tax increase on small business job creators," said Wicker (right.) "I can't think of a worse thing to do than that."Wicker and his fellow Republicans in Congress are concerned about the massive scale of the administration's unrelated spending – with more still to come – which comes as America's debt is skyrocketing.
"We're told another $2 trillion is on the way – and that's on top of this $1.5 trillion Federal Budget that the president rolled out just this past week."
An editorial from the Wall Street Journal argued recently that Biden's bill is a plan to remake the economy, and, "contains enough spending and industrial planning that it amounts to the Green New Deal in disguise."
It is true that just a fraction of the bill would go to traditional infrastructure.
Broken down by Politico, its estimated that only around 37% of the measure – or about $821 billion, – would be used for transportation, electricity, and internet.
Republicans, and some Democrats, also oppose the plan's proposed corporate tax hike from 21% to 28%.
Broken down by Politico, its estimated that only around 37% of the measure – or about $821 billion, – would be used for transportation, electricity, and internet.
Republicans, and some Democrats, also oppose the plan's proposed corporate tax hike from 21% to 28%.
This all comes as the U.S. Deficit jumped to a record $1.7 trillion for just the first six months of this budget year, nearly double the previous record – with more Democrat spending bills to come.
"I think broadband is infrastructure. It's not just roads, bridges, highways, etc. It's about investing in infrastructure," President Biden told reporters Monday. "Infrastructure not for the 20th century, but the 21st century," Biden said, noting that the White House would moving full steam ahead on its massive $2.3 trillion "Infrastructure Plan".
He's meeting with senators from both political parties this week, as the administration makes an attempt to broaden the idea of what's traditionally been called "infrastructure."The administration has released "fact sheets" breaking down "infrastructure" into 12 seperate categories, and the president has said he hopes to make progress on his "Infrastructure Plan" by Memorial Day.
Analysts, however, say it's still too early to tell if Biden will garner enough bipartisan support given the effort's scope, cost, and definitions of infrastructure.
