WASHINGTON–The bill that some people in Washington have called the “soft infrastructure” bill was originally expected to cost about $3.5 billion. Senator Todd Young (R-Ind.), says the final price will be closer to $4.2 billion and he voted against the budget resolution that was approved with only Democratic support.
Young said the additional $700 billion comes with increased interest on the debt.
“From the first moment this reckless budget was unveiled, I was against it. There’s a difference between smart, targeted investments that have long-term positive results and the out-of-control spending Democrats want for their socialist agenda,” said Young.
He said in a speech on the Senate floor that the Biden-Harris administration is violating a pledge they made not to increase taxes for people who make under $400,000 per year, by increasing corporate taxes to help pay for provisions in the bill.
“My Democratic colleagues are using this budget to try and pull and fast one on the American taxpayer by giving lip service to this pledge while proposing tax hikes that will largely be born by working and middle class American,” he said. “It is well-understood that a significant portion of corporate tax hikes are born by American workers in the form of fewer job opportunities and reduced wage growth.”
Young, and many Republicans, describe the bill as a “left-wing wish list”, with provisions creating a civilian climate corps, investments in “environmental justice”, tax relief for millionaires, amnesty for illegal immigrants, and labor law changes that could endanger the gig economy and franchises by requiring union membership.
The Biden administration says the bill would help support the creation of jobs in industries like electric auto manufacturing, and would offset the billions of dollars in damage caused by climate change.
Young also introduced an amendment to the budget resolution, the Not One Penny in Taxes Raised amendment, which would require Congress to uphold the Biden-Harris Administration’s promise to not raise taxes on anyone making less than $400,000 per year. The amendment passed 98-1 and Young said he intends to hold Democrats to the pledge when the reconciliation bill comes to the Senate floor in the coming months.