Democrats To Unveil $1 Trillion Infrastructure Plan, Seek Reversal Of GOP Tax Cuts To Finance It

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Senate Minority Leader Chuck Schumer, D-N.Y., walks to his office at the U.S. Capitol in Washington on Jan. 22, 2018. MUST CREDIT: Bloomberg photo by Andrew Harrer.

As the White House struggles to finance an ambitious infrastructure plan, Senate Democrats are proposing one alternative – albeit one unlikely to pass muster with President Donald Trump: rolling back the recently passed Republican tax overhaul.

The proposal to be unveiled by Democratic leaders Wednesday would plow just over $1 trillion into a wide range of infrastructure needs, including $140 billion for roads and bridges, $115 billion for water and sewer infrastructure and $50 billion to rebuild schools.

The spending would be offset by clawing back two-thirds of the revenue lost in the Republican tax bill by reinstating a top income tax rate of 39.6 percent, restoring the individual alternative minimum tax, reversing cuts to the estate tax, and raising the corporate income tax from 21 percent to 25 percent.

Senate Minority Leader Charles E. Schumer, D-N.Y., said in an interview Tuesday that the plan sets up a stark contrast for voters ahead of the midterm elections.

“We believe overwhelmingly the American people will prefer building infrastructure and creating close to 15 million middle-class jobs than giving tax breaks for the wealthy,” he said.

(c) 2018, The Washington Post · Mike DeBonis

{Matzav.com}

5 COMMENTS

  1. “We believe overwhelmingly the American people will prefer building infrastructure and creating close to 15 million middle-class jobs than giving tax breaks for the wealthy” LIAR! The tax breaks are for everyone! And NO, we prefer tax breaks over building infrastructure. Where were you the last 8 years or 18 years with Obama and Bush destroying the country? Why didn’t you worry about infrastructure then? WE WANT OUR TAX BREAKS.

    If the Democrats don’t want tax breaks, why force it upon them? Let “them” continue paying higher taxes for their infrastructure plan and whatnot.

  2. THE MOMENT ‘chuckie camera’ should be successful then everyone and anyone who received any bonus from the companies that received a tax cut and any sort of work related financial increase and/or compensations THEN MUST RETURN THEIR BONUS AND REVERT TO THEIR OLD POSTIONS.
    JEWS which I am a Jew and a Kohaine so I say..JEWS its time to drop the democrate party. They are not democratic. The organization is merely called democrate not reflecting democracy.

  3. Idiots. Anything to stick it to Trump. They could’t come up with this grand plan BEFORE he pulled off the greatest tax overhaul in history?

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