PRESIDENT Joe Biden will push the case for his $2.3trillion infrastructure plan in Louisiana – directly challenging GOP lawmakers who say that low taxes for corporations and the wealthy will fuel economic growth.
Biden will be speaking Thursday in the city of Lake Charles in front of a 70-year-old bridge that is 20 years past its designed lifespan.
Biden is trying to convince Republican voters on the idea that higher corporate taxes can provide $115billion for roads and bridges and hundreds of billions of dollars more to upgrade the electrical grid, make the water system safer, rebuild homes and jump-start the manufacturing of electric vehicles.
He’s proposing to pay for his plan by undoing the 2017 tax cuts signed into law by President Donald Trump and raising the corporate tax rate from 21 percent to 28 percent.
Biden says his programs would bolster the middle class and make the country stronger than tax cuts for big companies and CEOs.
However, Republican lawmakers have doubled down on low taxes as a core pillar of their ideology and partisan identity.
Several GOP senators favor spending $568billion on infrastructure over five years, a small fraction of what the Democratic president has proposed – a sign of how difficult a deal might be.
BIDEN TOUTS VACCINE ROLLOUT
Biden said rolling out the Covid vaccine was key in getting the country back on its feet but said now, it’s about “rebuilding America.”
“When it comes to bridges and roads, I’ve never seen a Republican or Democrat roads, I just see roads,” he remarked.
He described his plan as a “once in a lifetime” chance to create jobs and update infrastructure.
“Louisiana always picks itself up just like America picks itself up,” he said, vowing to helo the state hard hit by Hurricane Katrina.
BIDEN BEGINS EARLY
Biden kicked off his Louisiana address early at 2pm ET, telling attendees “I’ve been here more than once and it’s good to be back.”
“We have to build back better,” he said.
In just under 30 minutes, Biden is expecting to ask voters: will taxing big companies and wealthy CEOs make the US stronger.
Yesterday, he said: “I think it’s 35 or 30 corporations didn’t pay a single solitary penny last year and they’re Fortune 500 companies.
“They made $400 billion. They paid no taxes. How can that make any sense?”
It remains to be seen whether the largely Republican voters in Louisiana will be convinced.
BIDEN DOUBLES DOWN
During a press briefing at the White House on Wednesday, big spender President Joe Biden got slightly defensive about his expensive plans for America.
“What’s going to grow America more?” Biden said. “What’s going to help you and your security more?
“The super-wealthy having to pay 3.9percent less tax or having an entire generation of Americans having associate degrees?”
“Guess what,” he added. “It grows the economy. Benefits everybody. Hurts nobody.”
Biden got defensive about his big spending plansCredit: EPA
Yesterday, Joe Biden told reporters his pricey proposals would help to bolster the middle class in America – but Republicans aren’t so certain of the long-term benefits.
Rather than Biden’s $2.3trillion plan, the GOP would prefer to fork out $568billion on infrastructure over the course of five years – indicating some contentious talks are ahead.
Speaking at the University of Louisville, Senate Minority Leader Mitch McConnell of Kentucky said his party would prefer to finance these upgrades via tolls and gasoline taxes.
“We’re open to doing a roughly $600 billion package, which deals with what all of us agree is infrastructure and to talk about how to pay for that in any way other than reopening the 2017 tax reform bill,” he said.
BIDEN’S INFRASTRUCTURE ARGUMENT
Biden is set to try and convince red-state voters that the government can put a whopping $115billion towards roads and bridges.
He also intends to upgrade the electrical grid and make the water system safer for Americans, as well as rebuilding homes and breathing new life into the manufacturing of electric vehicles.
This would mean undoing Trump’s 2017 tax cuts and upping the corporate tax rate from 21 to 28percent.
Speaking about his American Rescue Plan yesterday, Biden addressed his GOP critics who are opposed to his tax hike
He said Republicans “are further away from trying to figure out who they are and what they stand for than I thought they would be” ahead of his Louisiana address today.
US President Joe Biden delivers remarks on the American Rescue Plan in the State Dining Room of the White House on May 5, 2021. (Photo by Nicholas Kamm / AFP) (Photo by NICHOLAS KAMM/AFP via Getty Images)Credit: AFP or licensors
LOCATION OF BIDEN SPEECH IS TELLING
Joe Biden is set to speak in the city of Lake Charles in front of a 70-year-old bridge, which is a telling location.
This aging piece of infrastructure is 20 years past its designed lifespan, according to the Associated Press.
By making his address in this GOP stronghold, Biden is directly challenging Republicans who are critical of his spending plan using higher corporate taxes.
BIDEN TOUTS PLAN AHEAD OF SPEECH
President Joe Biden took to Twitter to tout his whopping $2.3trillion infrastructure plan on Thursday ahead of his Louisiana address.
Before he’s expected to challenge his GOP critics during today’s speech, Biden made his position clear this afternoon.
“Right now, the United States ranks 13th in the world in infrastructure. It’s unacceptable,” he wrote. “We’ve got to pass the American Jobs Plan and rebuild our nation’s crumbling infrastructure.”
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