- Sen. Roger Wicker has reduced the chances of an infrastructure deal reducing the backlog of Trump’s tax cuts.
- He called it an impossible sale among Republicans on Monday.
- Wicker met with Biden to discuss his work plan with other Republicans and Democrats.
- See more stories on Insider’s business page.
Sen. Roger Wicker of Mississippi, the Republican in the Senate Commerce Committee, downplayed the prospect of a two-party agreement on President Joe Biden’s infrastructure plan, which withdrew the 2017 Trump tax cuts.
‘It would be an almost impossible sale of the president to reach a bilateral agreement that includes the cancellation of the signature. [law]”Wicker said.” And I told him that. ‘
Describing the tax cuts in 2017 as ‘one of my most notable achievements in my entire career’, he said he supported keeping the company’s tax rate at 21%. The law has reduced it to the level of 35%, and Biden wants to increase it to 28% to generate federal dollars for its infrastructure plan.
The remarks come after a two-way meeting between the White House and a centrist group of eight lawmakers, which Wicker called “a good meeting.” Biden administration officials said it was part of the effort to support their infrastructure plan.
“He is looking forward to hearing their ideas, and his goal is to find a way forward where we can modernize our country’s infrastructure so that we can compete with China,” Psaki said hours before the meeting. The White House also issued an ‘infrastructure report card’ on Monday that hit a majority of states with Cs and Ds.
The Biden infrastructure plan includes large-scale funding to repair roads and bridges and introduce incentives for clean energy. It also includes federal dollars for, among other things, parental care, public transportation, broadband and schools.
Republicans oppose the Biden infrastructure plan. They argue that the tax increases on multinational enterprises would hamper the growth of jobs and their global competitiveness in a vulnerable period in the economic recovery.
Senate Majority Leader Mitch McConnell on Monday downplayed the size and scope of the Democratic plan.
He said during a speech that the Democrats were launching an Orwellian campaign to convince everyone that any government policy could become ‘infrastructure’ at all. Liberals just have to believe in it hard enough. ‘
Some Democrats are still seeking changes to the plan. Sen. Joe Manchin of West Virginia says he is opposed to a 28% tax rate and prefers 25% instead.