Administration officials on Sunday defended President Biden’s lack of cash on President Biden’s broader infrastructure package despite a strong economic outlet – while Republicans described the plan as “reckless”.
Cecilia Ross, President of the President’s Economic Advisory Council, Fox News’ Chris Wallace, was asked why Congress needed to pass an infrastructure spending plan that would jointly cost 6 trillion, while the first There was a 6.4 percent increase in the quarter and unemployed fell. 14.7 percent to 6 percent.
“Those numbers indicate that we are just turning to come out of the recession. The numbers appear to be due to eye-popping which we call the base effect because they were very low last year, but we are not done yet. Next week, we will also get an employment report, ”said Rosé “Fox News Sunday.”
“I hope to see a strong job, but I hope we are going to remind ourselves that we are still 7 million or 8 million jobs where we were at this time last year,” he said. The economy that is recovering. We are leading the world and that recovery, but we are not done yet. “
He said the strategy behind the infrastructure plan is to “build partnerships” between the public and private sectors to invest so that we can actually grow.
But Wallace reported that one of the ways Biden has paid for the tab is to increase the corporate tax rate from 25.8 percent to 32.3 percent, and has questioned Ross over whether it would calm competition.
“What we have seen over the last several decades is that the richest Americans, the big corporations, are getting richer and they are contributing less in terms of federal revenue,” Ross said.
“The first point is to make sure everyone pays their fair share, not to raise taxes on the middle class, so no one has to raise taxes on taxes below $ 400,000 per year,” she said.
Treasury Secretary Janet Yellen said the president believed “permanent increases should be paid.”
“I believe that we should pay for these historic investments. There will be a big comeback. I hope that productivity will increase. Yellen said that enabling families to invest in research and development and employees to participate in paid leave and childcare support would be of great benefit. NBC News ” Meet the Press, Adding that a strong economy will generate tax revenue.
“I think the safest thing is to pay for them, and we are doing it in a way that is fair. I should also mention that tax compliance is a significant way to pay for it. It anticipated that. Gone is the federal government’s underpayment of taxes actually payable, over a decade, to the tune of about $ 7 trillion.
But Republican Sen. Susan Collins said she would not support the corporate tax rate hike because it would increase the job.
“I tell you what I will not support. I will not once again support American businesses paying the highest corporate tax rate among developed countries in the world, and unfortunately, that will be 28 percent. CNN’s “State of the Union.”
“And that means the job will go abroad once again. So I think we need to look at different types of pay-forces, but first we have to determine the scope of the bill, and we need to determine what the top line is going to be, ”she said.
GOP Sen. John Barraso also dismissed Biden’s spending proposals as “negligent” in infrastructure planning.
“It costs trillions and trillions of dollars,” Barraso (R-Wyo). ABC News ” This Week, When asked what would be the sticking point in the talks between Congress and the White House.
“When I look at it, it’s a staggering amount of spending, like with a new credit card, and these are for things we don’t need, we certainly can’t afford , But they are going to be happy. The party liberals said, “he said.
“I think it is a big role of the government, whether it is paying for child care for all, free college for all and eventually someone has to pay for it. It is almost causing a spending addiction, ”Barrasso said.
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