Congressional Democrats are infighting this week over Sen. Bernie Sander’s (I-VT) reported desire to levy $2.4 trillion in taxes within the trojan horse “infrastructure” package.
“They’re all trying to figure out what the bottom line is,” said a source familiar with the infighting told the Hill. “Schumer had $2.4 trillion [in tax revenues] plus $600 billion from the Medicare drug-price negotiation. He’s trying to figure out: ‘What can I get my caucus to support? What’s the revenue number?’ It’s not clear to me he can get $3 trillion.”
“There’s a lot of pressure on these people, pressure from both sides. Manchin has been very clear he wants it all paid for,” the source explained about Sen. Joe Manchin’s (D-WV) negotiations with the White House over President Joe Biden’s 28 percent desired corporate tax rate, compared to Manchin’s counter at 25 percent.
Senior fellow at the Institute on Taxation and Economic Policy Matthew Gardner also told the Hill Biden will most likely buckle to Manchin’s demands.