Biden’s Infrastructure “Plan” Is No Such Thing – It’s A Trojan Horse For Left-Wing Policies And A Nearly $2 Trillion Tax Hike
ONLY A FRACTION GOES TO INFRASTRUCTURE
- Out of $2.25 trillion in spending, Biden’s plan only includes $157 billion for the things that most Americans recognize as infrastructure:
- Only $115 billion for repairing roads and bridges (just 5 percent of the plan)
- Only $25 billion for our airports (just 1 percent of the plan)
- Only $17 billion for inland waterways and ports (less than 1 percent of the plan)
- Even going by the Biden White House’s figures, less than 30 percent out of more than $2 trillion will be used for transportation infrastructure.
A TROJAN HORSE FOR FAR-LEFT PROGRESSIVE POLICIES
- Biden’s plan includes hundreds of billions of spending on left-wing policies and blue-state priorities, including:
- $400 billion for an “unrelated” program for home care that “was a top demand of some union groups”
- $174 billion to subsidize the electric vehicle industry
- Biden’s plan calls for passing the radical “PRO Act,” which gives power to union bosses, hurts workers, and would cost businesses $47 billion every year.
- The PRO Act would ban right to work laws nationwide, harming workers and eliminating safeguards in 27 states that protect against forced unionization.
DEMOCRATS ARE GOING TO TACK ON EVEN MORE RADICAL POLICIES
- Democrats are already calling for Biden to tack on even more far-left priorities to this package that have nothing to do with infrastructure.
- Rep. Alexandria Ocasio-Cortez (D-NY): “This is not nearly enough.”
- Congressional Democrats are calling for a pathway to citizenship for 11 million illegal immigrants and a minimum wage hike to be included in the bill.
- Sen. Ed Markey (D-MA) and a coalition of far-left groups are calling for a $10 trillion Green New Deal-style climate spending plan to be included.
- Blue state Democrats want to include a tax cut for the wealthy by repealing the limit on the State and Local Tax (SALT) deduction, a change the Brookings Institution said “would massively favor the rich, with most of the benefit going to the top one percent.”
NEARLY $2 TRILLION IN TAX HIKES AND A HIGHER BUSINESS TAX RATE THAN CHINA
- Biden’s plan includes $1.8 trillion in tax hikes in the middle of an economic recovery.
- Biden wants to hike the federal tax rate on businesses to 28 percent, which the Tax Foundation estimated would kill 159,000 jobs, shrink the economy, and cut wages for low-income Americans.
- Biden’s tax hike would lead to the U.S. having a higher business tax rate than communist China.
- A 28 percent federal rate would raise the combined tax rate on U.S. businesses to the highest of any country in the G7 or OECD, drastically hurting America’s competitiveness.
- U.S. Chamber of Commerce: the tax hikes in Biden’s plan are “dangerously misguided” and “will slow the economic recovery and make the U.S. less competitive globally…”
- Hiking taxes on businesses ultimately hurts workers' paychecks, the majority of American households with retirement accounts, and the 53 percent of households that own stocks.
- Biden is expected to unveil even more tax hikes in the coming weeks – including raising the death tax and taxes on small businesses – that will get him closer to the $4 trillion in tax hikes he promised during his campaign.
- Transportation Secretary Pete Buttigieg already had to walk back his advocacy for taxing Americans based on the number of miles they drive as part of the plan.
- Biden wants to use budget gimmicks to pay for his spending over 15 years, even though the money would be spent within eight years.
- Manhattan Institute Senior Fellow Brian Reidl: “This is absolutely gimmicky and it would be dishonest to claim as legitimately paid for.”
BIDEN ALREADY PROMISED “SHOVEL-READY” GREEN JOBS ONCE, AND HE FAILED
- A National Bureau of Economic Research study found that for every $1 million spent on green jobs as part of the 2009 Obama-Biden stimulus, only 15 jobs were created.
- NBER paper: “We find little evidence of significant short-run employment gains” in green jobs from the stimulus.
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