Biden infrastructure/tax increase megathread

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https://twitter.com/schwartzbCNBC/status/1376618726620065794

Schumer himself has been pushing to bring back the deduction. Schumer and his fellow Democratic New York senator, Kirsten Gillibrand, introduced legislation in January that would eliminate the SALT cap.

“Sen. Schumer has long been a supporter of the SALT deduction and vehemently opposed the punitive Trump tax bill that severely undermined it. He is looking for the best way to repeal the SALT deduction cap,” a Schumer spokesperson said.

The so-called SALT deduction was capped at $10,000 by former President Donald Trump’s tax reform bill, which became law in late 2017. Taxpayers, particularly wealthy people, in New York and other high-tax states, including New Jersey and California, saw the biggest benefits when there was no cap. SALT deductions account for taxes on the state and local levels, including property and income tax.

The so-called SALT deduction was capped at $10,000 by former President Donald Trump’s tax reform bill, which became law in late 2017. Taxpayers, particularly wealthy people, in New York and other high-tax states, including New Jersey and California, saw the biggest benefits when there was no cap. SALT deductions account for taxes on the state and local levels, including property and income tax.

The cap, according to the Tax Foundation, “broadened the tax base by limiting the amount individuals could deduct in state and local taxes to $10,000. For high-income taxpayers, this cap increased federal taxable income.”

I hope, Biden will refuse.

Seems like a good idea to ditch the SALT cap

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The mid-Atlantic has the worst Democrats in the country.

And Not the south?

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https://twitter.com/burgessev/status/1405939797647036424?s=21


Well, this is a total disaster. Say goodbye to any hope of getting any action on carbon emissions reduction for the next 10 years, at which point, it'll probably be too late.

I fairly sure he saw what happens with Macron and doesn't want to risk a yellow vest movement

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Heres Trump's view:
Trump slams McConnell, infrastructure package: 'A disgrace'

https://thehill.com/homenews/senate/566838-trump-slams-mcconnell-infrastructure-package-a-disgrace

Former President Trump on Saturday slammed the Senate's $1 trillion bipartisan infrastructure package just hours before the upper chamber is scheduled to vote on winding down debate, calling the bill a “disgrace” and pushing Senate Minority Leader Mitch McConnell (R-Ky.) to negotiate a better deal.

The ex-commander in chief issued the message from his Save America PAC, accusing Republican leaders of satisfying the policy agenda of Democrats and telling GOP senators to think “twice before you approve this terrible deal.”

“Joe Biden’s infrastructure bill is a disgrace,” Trump wrote. “If Mitch McConnell was smart, which we’ve seen no evidence of, he would use the debt ceiling card to negotiate a good infrastructure package.”

Trump went on to express doubt that lawmakers have actually read through the entirety of the 2,700-page infrastructure proposal, arguing, “They would have needed to take speed reading courses.”

“It is a gift to the Democrat Party, compliments of Mitch McConnell and some RINOs [Republicans in name only], who have no idea what they are doing,” he added.

Trump, who has used his platform in recent months to throw his support behind allied congressional candidates running in 2022, warned Saturday that the “infrastructure bill will be used against the Republican Party in the upcoming elections in 2022 and 2024.”

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Republicans voting against this are pathetic.

is this for the 3.5t infrastructure bill?

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So will the end of September deadline be met? Right now it seems difficult to see it happening

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We have a 33T deficit you know

What?

He probably meant debt

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Why should they work with the moderate wing of the party again if they're not gonna hold up their end of the bargain?

Without disagreeing with anything you've said, this feels very much like the last gasp of the "moderate" wing of the Democratic party. Manchin will be gone in 2024, and Sinema might not run at all (though an independent campaign intended to sink Gallego or whoever primaries her wouldn't shock me). The party base will pull up primary challengers for the obstructionist representatives and I wouldn't be shocked to see a number of them go down (Ed Case almost certainly, barring vote splitting).

Mind, I don't expect any Democratic majority post-2024 because of gerrymandering, suppression, and the crazy "overturn elections we lose" fascists, but once Manchin, Sinema, and their supplicants in the House are gone, we're left with Democrats we've successfully bullied into ending the filibuster and supporting wealth redistribution.

no this isnt going to happen

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This is what happens when a significant part of your party base now is well-to-do ex republicans

Pundits were warning about this from the day Biden was sworn in

The dem coalition is a bizarre coalition of rich suburban voters and hardcore urban progressives.

Those 2 groups have opposed each other for most of American history on policy

How does this effect how the politicans vote on the bill.

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https://twitter.com/mkraju/status/1450539920850763781

https://twitter.com/mkraju/status/1450557440039206917

So no progress then. They have been discussing this for 2 months

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Why did the Az democrats even endorse Sinema for her 2018 senate run. She's basically a crypto republican at this point

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hey so when is this thing getting passed? I have been hearing close to a deal for like 3 months now

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So what are the odds at this point the reconciliation passesm there's been so much cut

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"I don't know f---ing anything about this bill but I'm pretty sure it's really bad."

Sounds like a joke, but this is literally a conversation I had two days ago on one of my groupchats that has a bunch of progressives.  They all decided, after Biden made the deal, that they hated it and it shouldn't pass at all!  Eventually after some arguing, one of them said, "what is actually in the bill?"  Like she literally didn't even know.  And after I listed ten things that were in the bill the entire GroupChat just went completely dead and the conversation was never resumed.

I don't think we should be trying too hard to market this bill to the American people yet since we may market it using things that are later taken out, which they'll see as a betrayal of trust.

As Pelosi once famously said, "we have to pass the bill so you can find out what's in it!"

They were all progressives huh?

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So is this thing getting passed, now they keep saying next week or next month or something

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https://twitter.com/sahilkapur/status/1453831257348005890

👀

You already know the politicans who claim to support it are lying about it

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The "progressives" holding the infrastructure bill hostage just cost us Virginia.

I hope they are happy now.

Not Manchin, Sinema or senate democrats stalling this out for as long as they can?

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Perhaps the best case scenario is for BBB to die, and then use the resulting anger and backlash among progressives to purge every corporate-funded Democratic elected official (i.e. the ones who call themselves 'moderates' or 'centrists') out of the party:

Poll: Biden bets big on Build Back Better — but the more Democrats cut, the less popular it gets

Late last month, President Biden warned squabbling Democratic lawmakers that their “House and Senate majorities and my presidency” will be “determined” in large part “by what happens” to the latest version of his signature Build Back Better plan to combat climate change and expand the social safety net.

“I don’t think it’s hyperbole,” Biden said.

But according to a new Yahoo News/YouGov poll, the latest version of Build Back Better — a renegotiated $1.75 trillion compromise designed to win the votes of centrist Democrats such as West Virginia Sen. Joe Manchin and Arizona Sen. Krysten Sinema — is significantly less popular than the original, $3.5 trillion proposal that preceded it.

Republicans, for their part, make no distinction between the two versions of BBB, both of which they reject. Less than a quarter (23 percent) say they favor the original $3.5 trillion plan; exactly the same number (23 percent) say they favor its half-price successor. By shaving $1.75 trillion off the price tag, Democrats gain precisely zero Republican support in the poll.

What they do instead, however, is start to discourage their own party. While a full 80 percent of Democrats say they favor the initial, $3.5 trillion iteration of BBB, just half as many (40 percent) say they feel the same about the latest $1.75 trillion version. Among 2020 Biden voters, support and opposition are now evenly split at 39 percent apiece for the slimmer package.

Even more striking is the sentiment among independents. Unlike Republicans, non-affiliated Americans favor a $3.5 trillion BBB 43 percent to 38 percent. They feel very differently, though, about Democrats’ new $1.75 trillion compromise, opposing it by a two-to-one margin (50 percent to 25 percent). That’s a staggering 20-point shift away from the shrinking legislation, on net.

So let me get this straight

you think that the Dems should kill their own reconciliation bill just before the 2022 midterms while also dividing the party by launching a campaign to take down  moderate dems like Joe Manchin right in the middle of an election year

These guys are very happy about that idea....


Also if you think progressives are going to march to the red state of West Virginia and somehow purge Joe Manchin from the party than I have some Trump property in Florida to sell you lol

This theory makes sense if you think that the democrats don't really want to be in charge which could make sense.

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https://www.yahoo.com/news/trump-says-never-ever-endorse-175549131.html

Trump is threatening to withdraw support if RS left BBB passes

That means keep the heat on Manchin and Simema on Filibuster reform and not participate in supplying 60 votes for Debt Ceiling increase

Manchin and Sinema have the power to break the impasse on Debt Ceiling and VR but haven't used it yet

Badge of honour

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Any news on the status of BBB?

(Also, if the debt limit increase and budget continuation will be part of it now?)

There was talk about getting it done before christmas but who knows at this point

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https://twitter.com/WSJbusiness/status/1468350370896302085

The future Pr. of US (and Emperor of the Mars) has spoken.

As if that should influence anybody

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Yikes. Dems are really showing voters what a non-functional party looks like.

And the voting rights bill isn't going to pass either. Manchin's probably going to switch parties soon.

Maybe independent but he can’t be a republican unless Trump agrees to support him(he won’t)

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I dont think Manchin is interested in anything

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Isn't this bill dead or this is still going on