Washington — President Biden will deliver remarks on Wednesday promoting the American Jobs Plan, his, and defending his proposal to raise the corporate tax rate to pay for it.
The president will reiterate his willingness to work on a bipartisan basis to improve the plan he has laid out, a White House official told CBS News. However, he will also challenge criticisms from Republicans about raising the corporate tax rate or including provisions that seem unrelated to the traditional definition of infrastructure, such as updating veterans’ hospitals and expanding broadband access.
Mr. Biden has proposed raising the corporate tax rate from 21% to 28% and renegotiating a global minimum tax on multinational corporations. The president has also pledged that no one making under $400,000 would see a hike in their taxes.
How to watch President Biden’s remarks
- What: President Biden delivers remarks on the American Jobs Plan
- Date: Wednesday, April 7, 2021
- Time: 1:45 p.m. ET
- Location: The White House, Washington, D.C.
- Online stream: Live on CBSN in the player above or on your mobile or streaming device
Republicans have criticized the size of Mr. Biden’s infrastructure proposal, and argued that not enough of it would be spent on projects such as building highways.
“When people think about infrastructure, they’re thinking about roads, bridges, ports and airports,” GOP Senator Roy Blunt said in an interview with “This Week” on ABC News on Sunday.
But the Biden administration argues that the definition of infrastructure should be more expansive, and include ideas such as investing in electric car charging stations, improving access to clean water and bolstering home care for the elderly and disabled.
Despite Mr. Biden’s efforts to convince Republicans to support his plan, it is unlikely that GOP lawmakers will vote for such a large package that also raises corporate taxes. As most legislation requires 60 votes to advance in the Senate, and Democrats only hold a 50-seat majority, Democrats may use the process of budget reconciliation to pass the bill, which allows legislation to be approved with only a simple majority of votes. Congress used budget reconciliation to pass Mr. Biden’s $1.9 trillion American Rescue Plan without any Republican votes.
The Senate parliamentarianthat Congress may use budget reconciliation multiple times per fiscal year, a boost of Democrats seeking to pass Mr. Biden’s budget-related priorities with a simple majority.
Mr. Biden’s proposal has also received some criticism from progressive Democrats, who argue that it does not go far enough. And at least one senator, moderate Democrat Joe Manchin, has expressed concerns about raising the corporate tax rate to 28%, instead advocating for raising it to 25%. However, Democrats are more likely to get in line behind the president’s package than Republicans.
Sara Cook contributed reporting.