'Green New Deal in Disguise': Republicans Question Massive Scope and Cost of Biden's So-Called Infrastructure Plan
Read Transcript
- It's still too early to tell
if both sides can strike a deal.
This week, the president is meeting
with senators from both parties.
Still he's pushing the definition
of what's considered infrastructure.
- It's about investing in infrastructure
not for the 20th century,but the 21st century.
- [Jenna] The president says he's sincere
about reaching a compromise onhis expensive spending plan.
As the administration makesits latest attempt to broaden
what's traditionally beencalled infrastructure.
- I think broadband is infrastructure.
It's not just roads,bridges, highways, et cetera.
That's what we're gonna talk about
and I'm confident everything'sgonna work out perfectly.
- [Jenna] And talkingdirectly to Americans
by releasing fact sheets
that define infrastructurein 12 categories.
It grades all 50 States andthe District of Columbia
and argues how each would benefit.
- We're willing to negotiatea much smaller package.
- Republicans though say the price tag
on the president's $2.3trillion plan is way too high
and have deep-seateddoubts about its scope.
Senator Roger Wicker ofMississippi voiced his concerns
before Monday's meetingwith the president.
- You got a proposalhere of $2.3 trillion,
70% of which cannot, by anystretch of the imagination,
be called infrastructure.
That's on top of $1.9trillion a few weeks ago.
Most of which was not COVID related.
We're told another 2trillion is on the way
and that's on top of this
$1.5 trillion skinny federal budget
that the president rolledout just this past week.
- [Jenna] And an editorial today
from the Wall StreetJournal argues Biden's bill
is actually a plan to remake the economy
and "contains enough spendingand industrial planning
that it amounts to theGreen New Deal in disguise."
It's true just a fraction of the bill
would go to traditional infrastructure.
Broken down by Politico's estimate,
only around 37% of themeasure or about $820 billion
would be used for transportation,electricity, and internet.
Republicans and some Democrats also oppose
the plan's proposed corporatetax hike from 21 to 28%.
This all coming as the U.S. deficit
jumps to a record $1.7 trillion
for just the first sixmonths of this budget year,
nearly double the previous record,
and with more Democraticspending bills still to come.
- This is a massive socialwelfare spending program
combined with a massive tax increase
on small business job creators.
I can't think of a worst thing to do.
- And the president'smeetings with lawmakers
will continue through this week.
He says he hopes to have progress made
on his infrastructureplan by Memorial Day.
In Washington, Jenna Browder, CBN news.