Sunday, June 20

Biden faces complications in reaching consensus with Republicans on new economic package

President Biden and Vice President Harris met with the so-called “big four” of Congress.

Doug Mills-Pool / Getty Images

The good news is that Republicans sat down to talk with the president Joe Biden its new $ 4 trillion economic plan divided into two projects. The bad news is that they did not reach a consensus.

Democratic leaders attended the meeting, Nancy Pelosi (California), Speaker of the House of Representatives, and Chuck Schumer (New York), Senate Majority Leader; as well as minority leaders in Congress, Mitch McConnell (Kentucky), Senate, and Kevin McCarthy (California), House.

Prior to the meeting, President Biden highlighted his interest in generating a bipartisan dialogue.

“When I ran, I said I was not going to be a Democratic president; he was going to be president of all Americans “. Indian. “Let’s see if we can reach some consensus on a compromise to move forward.”

He added that they would talk about his infrastructure project, established in the American Jobs Plan, $ 2.25 trillion. The meeting was also attended by the vice president Kamala Harris.

“We will talk a lot about the infrastructure, to see if there is any way to reach a compromise that does the job … and is within the limits that everyone agrees with,” he said.

The result of the meeting was not so positive, as McConnell hinted as he left the meeting and stressed that Republicans are clear of the plans they will not support, such as the intention to increase corporate taxes.

“We are not interested in reopening the 2017 tax law. We both made that clear with the president. That’s our red line, ”McConnell said.

McCarthy added that there is an opportunity to work together on infrastructure, an issue that remains to be defined, but insisted that the tax increases are out of the question for Republicans.

“Let me start with that we are not interested, as long as it is not about tax increases, and when dealing with infrastructure, let’s start with the concept of what the definition is. [de infraestructura]”, He said.

Biden’s plan would raise the corporate tax rate to 28 percent, in addition to establishing a minimum global tax. The 2017 reform lowered the corporate tax rate from 35 percent to 21 percent.

The direct tax on families it is for those households that earn more than $ 400,000 annually, which is estimated to be less than two percent.

Democrats were more optimistic, even the speaker of the House said that by July 4, when the country is expected to return to some normality due to the pandemic of COVID-19, there would be results of President Biden’s plans.

“The president has his vision,” Pelosi said. “Congress will do its bidding. In any case, I was optimistic about our ability to pass such a bill and [estoy] more optimistic now about being able to do it in a bipartisan way. “

Schumer acknowledged that there is a debate ahead, but there is a window to reach an agreement.

“[Se] I would explore the places where we could agree and reach a bipartisan agreement ”, he defended.

President Biden also promotes the Plan for American Families, which contemplates $ 1.8 billion dollars for different fiscal programs, being the Child Tax Credit the “star” plan, since it would seek to reduce child poverty by half by extending the benefit to 2025.

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