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What’s Doable If Democrats Fly Solo on Infrastructure: QuickTake

Sumary of What’s Doable If Democrats Fly Solo on Infrastructure: QuickTake:

  • By Lillianna Byington and Laura Davison | Bloomberg, President Joe Biden campaigned on a $2 trillion infrastructure package to fuel the economic recovery and tackle climate goals…
  • Otherwise it back to the go-it-alone route known as budget reconciliation, through which Democrats could raise taxes with relative ease but perhaps not be able to put the money toward the projects they most value…
  • To pay for it, the Biden administration is considering an array of tax hikes that would target corporate profits and households making $400,000 or more…
  • But Senate Minority Leader Mitch McConnell says there is no enthusiasm in his party for any legislation that requires tax hikes…
  • one infrastructure bill funded partly by user fees (or other offsets known colloquially as “pay-fors”) rather than tax hikes, which might draw Republican support and thus not need to go through the budget reconciliation process;..
  • It a procedure created by the Congressional Budget Act of 1974 that allows for expedited consideration of legislation related to spending, taxing and the federal debt limit…
  • tax and spending practices with a joint House-Senate budget resolution need only a simple majority vote to win approval in the 100-seat Senate, rather than the 60-vote supermajority required to pass most measures….

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