Biden claims no new taxes as infrastructure deal reached

OAN Newsroom
UPDATED 7:47 PM PT – Thursday, June 24, 2021

According to Joe Biden, a bipartisan infrastructure deal has been crafted. Biden officially made the announcement on Thursday following weeks of discussions by lawmakers on both sides of the aisle.

The framework for the agreement calls on $579 billion in new spending, totaling $974 billion over five years and $1.2 trillion if it continues over eight years. Biden said he gave lawmakers his word to stick with their proposal and they’ve given him their word in return.

“We’ve all agreed that none of us got what…all of what we wanted. I clearly didn’t get all I wanted. They gave more than, I think, maybe they were inclined to give in the first place,” Biden said. “But, this reminds me of the days we used to get an awful lot done up in the United States Congress. We actually worked with one another; we had a bipartisan deal. Bipartisan deals mean compromise.”

We’ve struck a deal. A group of senators – five Democrats and five Republicans – has come together and forged an infrastructure agreement that will create millions of American jobs.

— President Biden (@POTUS) June 24, 2021

However, just a short time later, Biden said he would not sign the bipartisan bill unless he gets a reconciliation bill with the rest of his agenda items.  This comes as House Speaker Nancy Pelosi (D-Calif.) warned the agreed-upon bill must be paired with the Democrat’s larger agenda, saying there won’t be a bipartisan bill without a larger Democrat-led reconciliation bill.

Biden claimed it was always understood there was going to be a second part of the bill. According to the White House, the bipartisan deal includes improvements to rail networks, an effort to build a national network of electric vehicle chargers and electrifying school and transit buses across the country.

Road repair is also included, along with the elimination of the nation’s lead drinking water lines and pipes. The measure further seeks to upgrade the nation’s power infrastructure and connect every American to reliable high-speed internet.

This bipartisan agreement represents the largest investment in public transit in American history. The largest investment in rail since the creation of Amtrak. It will deliver high speed internet to every American home and replace 100% of our nation’s lead pipes.

— President Biden (@POTUS) June 24, 2021

Not included is the White House’s plan to raise taxes on corporations and wealthy Americans to pay for the deal. However, with the $6 trillion reconciliation bill expected to be included with the bipartisan bill, Democrats are expected to push their own priorities.

Along with elements of Biden’s $1.9 trillion American Families Plan and $2.2 trillion American Jobs Plan, the bill is expected to include lowering Medicare eligibility to age 60. It is also expected to expand the child tax credit with universal paid family leave.

Yet, critics warn an additional $6 trillion added to the economy will only serve to hike already skyrocketing costs.

Therefore, Democrats will have to convince their moderate colleagues, including Sens. Joe Manchin (D-W.Va.) and Kyrsten Sinema (D-Ariz.) to go along with the reconciliation proposal in order to pass the measure without GOP support.

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