In an interview with Metro News on Monday, Sen. Joe Manchin (D-W.Va.) pushed back on President Joe Biden’s $2.25 trillion infrastructure bill, saying he believes the proposed corporate tax rate increases could be detrimental - and adding that several other congressional Democrats agree.
“As the bill exists today, it needs to be changed,” said Manchin.
“It’s more than just me,” the lawmaker continued. “There’s six or seven other Democrats who feel very strongly about this. We have to be competitive, and we’re not going to throw caution to the wind.”
“We can’t continue to throw caution to the wind, and both sides — Democrats and Republicans both — have been irresponsible with their financial responsibilities that we have for our country and our future generations,” he added.
President Biden outlined his $2.25 trillion infrastructure bill last week, which includes, among other provisions, $621 billion for traditional infrastructure such as roads and bridges, $400 billion for “care infrastructure,” and $100 billion for workforce development targeted at low-income and underserved communities.
While Republicans oppose the bill for its excess spending outside of traditional infrastructure, Senator Manchin’s biggest opposition is to the bill’s method of funding, a 28% corporate tax rate.
“Let’s collect what we should,” said Manchin. “I think corporate should have been 25 percent. Other than that, basically looking at all the loopholes and money that’s uncollected.”
On Monday, the Senate parliamentarian announced that Senate Majority Leader Chuck Schumer (D-NY) is allowed to use reconciliation, a procedure which will enable him to push Biden’s infrastructure bill through the Senate without bi-partisan support. Democrats previously used reconciliation to pass the $1.9 trillion “COVID-19 relief bill” with a simple majority vote.
“If I don’t vote to get on it, it’s not going anywhere,” Manchin warned.