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BREAKING
Al Mayadeen's correspondent: Two were martyred in an initial toll of the Israeli drone strike that targeted the al-Asira neighborhood in the city of Baalbek, eastern Lebanon
Al Mayadeen's correspondent: An Israeli drone strike targeted the al-Asira neighborhood east of Baalbek, eastern Lebanon
Sheikh Naim Qassem to the pager attack survivors: You are the greatest resistance. Know that 'Israel' will fall because it embodies aggression, crime, and occupation; victory is truly yours
Sheikh Qassem to the pager attack survivors: The value of what you are doing despite your wounds is immense, and here you are, treading the path of the Master of Nation's Martyrs and the leaders
Sheikh Qassem to the pager attack survivors: You are moving forward with insight deeper than sight itself. The enemy sought to eliminate your role in the battle, yet you remain steadfast and continue the fight
Hezbollah Secretary-General Sheikh Naim Qassem to the pager attack survivors one year later: You are healing from your wounds and rising above them. You have successfully passed the test
Palestinian media: Reports of stabbing operation in occupied al-Quds.
Israeli media: Sirens blare in Arava in South, near Ramon Airport.
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map
AEOI Chief Mohammad Eslami: Our presence in IAEA General Council and fact-checking helped in preventing unilateral rhetoric that aims to portray Iran as an unregulated country

Biden-Endorsed Bipartisan Infrastructure Deal Faces Skepticism

  • By Al Mayadeen
  • Source: Agencies
  • 5 Jul 2021 22:27
3 Min Read

The $973 billion bipartisan plan that would overhaul the United States transportation, water, and broadband infrastructure faces harsh criticism from key Democrat figures due to its funding plan.

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  • Bipartisan Deal
    Construction workers at the site of a large public infrastructure reconstruction project in New York City, New York | Credit: Reuters.

United States President Joe Biden endorsed a $973 trillion bipartisan infrastructure deal in June, causing skepticism to rise among key Democrats due to their concern about the plans to pay for the massive deal.

Two major financing mechanisms were put on the table: repurposing unspent funds for unemployment benefits and state assistance. A group of Democrat senators opposed the mechanisms, as they were saying that higher corporate tax rates should be the primary source of revenue.

Leading the group of senators is the Democrat, Oregon Senator Ron Wyden, who will present a financing plan based on $1 trillion collected from major corporations, in addition to $300 billion he intends to obtain from taxing unrealized capital gains.

Wyden sees that corporations, which enjoyed tax cuts in 2017 under former President Trump, will benefit greatly from new infrastructure investment, so they should bear much of the cost.

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The proposal calls for raising money in a variety of other ways that allow corporations to keep the tax cuts they are enjoying. The most controversial plans among Democrats are those that aim to redirect unused unemployment insurance funds and repurpose $125 billion in unused COVID-19 relief previously designated for local governments. 

Party leaders promised to tie the bipartisan deal to a larger package that would raise taxes on major companies and America's wealthiest. The measure that is mostly proposed and backed by the Democrats would need to pass under the budget reconciliation process to avoid a GOP filibuster (a procedure where one or more members of congress debate over a proposed piece of legislation so as to delay or entirely prevent a decision being made on the proposal) in the Senate.

The Chairman of the Senate Budget Committee, Bernie Sanders, said last month he would not vote for the bipartisan framework because of the lack of "progressive" revenue sources.

Sanders added, "The bottom line is there are needs facing this country. Now is the time to address those needs and it has to be paid for in a progressive way given the fact that we have massive income and wealth inequality in America."

Senate Minority Leader Mitch McConnell said Republicans want to see a Congressional Budget Office analysis of the revenue raisers “to see whether the proposal is credibly paid for."

  • United States
  • Democrats
  • Joe Biden

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