Home » Economy » Manchin calls for 'enormous' infrastructure bill funded by new taxes
Manchin calls for 'enormous' infrastructure bill funded by new taxes
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Sen. Joe Manchin, a key centrist Democrat, said this week that he supports a multi-trillion dollar infrastructure package that would be paid for in part by raising taxes.
West Virginia's senior senator, who has become one of the most powerful members of the 50-50 Senate, said he could support a bill as large as $3 trillion — as long as it does not substantially increase the nation's already swollen deficit.
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“As long as it’s paid for. We need this country needs to rebuild itself," Manchin told reporters on Tuesday. "We need to rebuild ourselves, and it has to be infrastructure."
The tax changes that Manchin proposed include making "adjustments" to Republicans' 2017 tax law, which slashed the corporate tax rate from 35% to 21% and lowered the individual income tax rate paid by wealthy Americans. Manchin said the corporate tax rate should be raised to at least 25%.
"I'm not afraid to look at other things," he said.
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Biden is currently laying the groundwork for another massive economic relief package and is expected to propose as much as $3 trillion in new spending on a jobs and infrastructure bill that would become the foundation of his "Build Back Better" program.