Top Republicans Join Forces To Fight Biden’s Reported Tax Agenda
Top Republicans are joining forces to combat President Joe Biden’s reported tax hikes and plan to use the money for his more than $3 trillion infrastructure package. According to Axios , the leaders of the Coalition to…
Top Republicans are joining forces to combat President Joe Biden’s reported tax hikes and plan to use the money for his more than $3 trillion infrastructure package.
According to Axios, the leaders of the Coalition to Protect American Workers include former Vice President Pence’s chief of staff, Marc Short.
A source familiar with the plans said the group is expected to spend at least $25 million on TV and digital ads along with organizing. The group will also spend time targeting members of Congress who are considering throwing their support behind Biden’s tax plans, among those being House Democrats in swing districts.
The source indicated the group may also focus on Republicans who might be thinking about voting for Biden’s tax hikes.
Short said in a statement the plan would kill jobs and “stifle our economy as the country is finally emerging from a pandemic.”
Sources familiar with the discussions around Biden’s tax hikes told Bloomberg earlier this month the plan would increase the corporate tax, income tax rate for Americans making more than $400,000, and a higher capital-gains tax rate for Americans making at least $1 million, as IJR reported.
Biden is hopeful his infrastructure bill will be approved over the summer. On Wednesday, he is expected to announce parts of his “Build Back Better” package in Pittsburgh. The package could include $3 trillion in tax hikes.
Senate Majority Leader Chuck Schumer (D-N.Y.) indicated the White House is discussing whether to pursue a standalone infrastructure bill or combine it with a broad package on tax reform.
“We’re discussing all of this with the White House, our discussions have just been preliminary,” he said.
Schumer’s office reported on Monday it is working to give Biden the flexibility he needs.
According to The Hill, there are several Senate Democrats who want to pay for a portion of the infrastructure package, but pairing it with a tax reform package could affect 2022 Democratic candidates as it appears they are raising taxes amid the COVID-19 pandemic.