As President Biden races ahead with a mammoth plan to bolster the nation’s infrastructure, Democrats are gambling they’ll get a political boost from an accompanying proposal: the tax hikes designed to defray the massive costs.
Biden on Wednesday outlined a slate of tax reforms aimed at raising $2.5 trillion — much of it from large corporations — to underwrite the new infrastructure spending. The proposal was quickly roasted by Republicans, who have long portrayed Democrats as the party of higher taxes and are now warning that Biden’s plan would hurt small businesses and kill American jobs.
Yet national polls have consistently revealed that tax hikes on corporations and other wealthy taxpayers enjoy strong support among a broad array of voters, including independents. And some Democrats are practically drooling at the prospect of bringing that debate to the national stage to highlight the GOP’s resistance to a popular concept. Continue reading.