Democrats in Congress propose tax hikes to pay for $3.5 trillion infrastructure bill
BISMARCK, N.D. (KFYR) – Democrats in Congress have introduced potential tax hikes to fund their proposed $3.5 trillion infrastructure bill. North Dakota Congressman Kelly Armstrong previously called the Democratic plan a “reckless spending spree” and introduced an amendment Monday that would undercut the Democrats’ plan for a “climate bank.”
“What is it exactly? It is an unaccountable giveaway for special interests to fund their own pet projects at the expense of American taxpayers,” said Representative Armstrong.
The hikes would increase the top corporate tax rate from 21% to 26.5% and the top individual tax rate from 37% to 39.6%. One reason for the proposed tax increase is to bridge a rift between Democratic lawmakers: progressive Democrats say they won’t settle for a bill less than $3.5 trillion and moderate Democrats won’t vote for a bill as high as $3.5 trillion.
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