Paying For Infrastructure With Pixie Dust

President Biden and a bipartisan group of senators have agreed to the framework of a plan to boost infrastructure spending by about $579 billion. On top of already planned spending for roads, bridges, transit, water, and broadband, it would amount to a massive $1 trillion. And they have agreed to pay for it largely with…pixie dust.
Let’s face it: If Congress wants to pay for a $1 trillion spending plan without raising the deficit, the only real ways to finance it are by raising taxes, cutting other spending, or both. This agreement does very little of either. And while the White House fact sheet describing the agreement includes no revenue estimates with its brief descriptions of the pay-fors, they are certain to generate far less than the plan costs.
Foreclosed options
The challenge was obvious from the time the talks began. Congressional Republicans refused to agree to any bill that reversed the corporate tax cuts in the 2017 Tax Cuts and Jobs Act. Biden rejected any form of gasoline tax hikes or other user fees on vehicles because they’d violate his promise to not raise taxes on households making $400,000 or less.
ทดลองเล่นสล็อตฟรีทุกค่ายBy not hiking corporate taxes and not raising taxes on households with incomes of less than $400,000, the White House and the senators eliminated many serious tax increases. And major offsetting spending cuts never seemed to be on the table.
That left lawmakers in the same place they’ve been for years. Most want an infrastructure bill. After all what politician doesn’t enjoy cutting a ribbon for a new highway or transit project? But they’ve never been able to agree on how to pay for it.