Sen. Mitch McConnell slams tax hikes in Biden's $2 trillion infrastructure bill, says he is unlikely to support it

Posted on
  • Senate Minority Leader Mitch McConnell, R-Ky., signaled early opposition to President Joe Biden's $2 trillion infrastructure overhaul plan, saying it's "not likely" he would support it.
  • "It's like a Trojan horse," McConnell told reporters in Kentucky. "It's called infrastructure, but inside the Trojan horse it's going to be more borrowed money, and massive tax increases on all the productive parts of our economy."
  • McConnell also said that Biden called him on Tuesday to brief him about the proposal.

Senate Minority Leader Mitch McConnell, R-Ky., on Wednesday took an early swipe at President Joe Biden's soon-to-be-announced infrastructure overhaul, decrying the "massive" tax increases in the roughly $2 trillion plan and fretting about its impact on the national debt.

McConnell, who has opposed prior administrations' attempts to pass new infrastructure spending through the Senate, said he was unlikely to support Biden's ambitious new proposal.

"It's like a Trojan horse," McConnell told reporters in Erlanger, Kentucky. "It's called infrastructure, but inside the Trojan horse it's going to be more borrowed money, and massive tax increases on all the productive parts of our economy."

CNBC Politics

Read more of CNBC's politics coverage:

  • Here are the details of Biden's $2 trillion infrastructure plan
  • Senate Democrats are pushing for recurring stimulus checks
  • GOP Rep. Matt Gaetz investigated for alleged sex trafficking of girl

The Republican leader said that if the plan is "going to have massive tax increases and trillions more added to the national debt, it's not likely" he would support it.

McConnell also said that Biden called him on Tuesday to brief him about the plan. It's the second time the two men have spoken since Biden's inauguration, according to NBC News.

Biden on Wednesday afternoon is set to travel to Pittsburgh, known as "the Steel City" for its once-towering status as a leading manufacturing hub, to detail his plan to update U.S. infrastructure and create jobs.

The White House says the legislation is just the first part of a double-barreled, multitrillion-dollar economy recovery plan. The second leg of the plan, which will involve huge investments in U.S. health care and child care, is likely to be revealed later in April.

Biden's speech is scheduled to start at 4:20 p.m. ET.

This is developing news. Please check back for updates.

Source: Read Full Article

Politics