WASHINGTON- U.S. Senate Minority Leader Mitch McConnell said on Thursday that he will fight President Joe Biden's$ 2 trillion infrastructure plan every step of the way and predicted the sweeping package would not see support from Republican legislators in Congress.
Biden said in a news conference in Owensboro, Kentucky, that the McConnell proposal underscored deep philosophical differences between Republicans and Democrats over taxes and national debt. He told reporters that he does not believe the White House has a public mandate to pursue the plan.
I 'm going to fight them every step of the way because I think this is the wrong prescription for America, he said.
Biden's Infrastructure Plan, unveiled on Wednesday, chart a course for dramatic change in the direction of the U.S. economy and includes investments in traditional projects like roads and bridges along with climate change initiatives and human services like elder care.
There is more money in that plan, which the president laid out in Pittsburgh for electric cars than for roads and bridges. McConnell said that there is more money for electric cars than roads and bridges.
Biden proposed funding the package by raising the tax rate on U.S. corporations from 21% and making it harder for companies to use offshore tax shelters and other methods to reduce their tax burdens.
McConnell warned that massive tax increases would hurt the economy and said the package's spending level could increase debt burden. The White House says that the infrastructure proposal will pay for itself more than it should.
My view about infrastructure is that we should build that which we can afford and not either whack the economy with national tax increases or run up the major debt, he said.