Biden infrastructure/tax increase megathread

[○∙◄☻¥tπ[╪AV┼cVê└]

It's extraordinary what the Democrats have been able to accomplish with such historically thin majorities in government. Compare their record to the very few achievements the Republicans were able to get from 2017 to 2019 despite having more comfortable numbers in the House and Senate and you get a very stark contrast in competence between the two parties.

From 2017-19:

- We passed the most major tax reform bill since 1986
- Passed Deregulation Bills
- Passed the First Step Act
- Passed VA Reform
- Passed a Bill to tackle the Opioid Crises

The first two of those are bad ideas, and as far as I can tell the opioid crisis continued to get worse under Trump's administration, whatever the merits of that bill.

You're not left with much if you exclude flawed bills from Presidential accomplishments.

[Hope For A New Era]

Today is a good day.

[jojoju1998]

Yes and conservatives like me think the first two bills  were great just like liberals like you think this bill is good .

All true conservatives should support the repeal of the Tax Cuts and Inflation Act (aka: welfare for corporations). Trillions of dollars down the drain, I'm tired of fiscal conservatives getting scammed by businesses who want a handout.

Corporate Tax increases will be passed on to the consumer so no

It's irrelevant where it's passed on. As conservatives, our #1 priority should be balancing the budget to pay down the debt. Anything more than that is no more than welfare.

You should have told President Trump that in 2017.

[Kahane's Grave Is A Gender-Neutral Bathroom]

Yes and conservatives like me think the first two bills  were great just like liberals like you think this bill is good .

All true conservatives should support the repeal of the Tax Cuts and Inflation Act (aka: welfare for corporations). Trillions of dollars down the drain, I'm tired of fiscal conservatives getting scammed by businesses who want a handout.

Corporate Tax increases will be passed on to the consumer so no

It's irrelevant where it's passed on. As conservatives, our #1 priority should be balancing the budget to pay down the debt. Anything more than that is no more than welfare.

You should have told President Trump that in 2017.

But that makes the far-right's dream world of Cyberpunk2077 harder to achieve!

[Frodo]

That's one less thing to worry about on Friday when the House votes on the Senate-passed Inflation Reduction Act:

Pro-SALT deduction House Democrats say they’ll back Senate bill

[America Needs R'hllor]

So it's official, every single Republican senator has now voted against reducing inflation.

This bill will do the opposite

There is no economic argument for this. You can certainly claim that it doesn't do much to reduce inflation and it's a politically motivated name, which I agree with (but still support the bill because it does some very basic important things like invest in clean energy independence and reduce the cost of medicine). But it doesn't have any real inflationary measures. It reduces demand and slightly increases supply.

[OSR stands with Israel]

So it's official, every single Republican senator has now voted against reducing inflation.

This bill will do the opposite

There is no economic argument for this. You can certainly claim that it doesn't do much to reduce inflation and it's a politically motivated name, which I agree with (but still support the bill because it does some very basic important things like invest in clean energy independence and reduce the cost of medicine). But it doesn't have any real inflationary measures. It reduces demand and slightly increases supply.

It is a politically motivated name and the fact is inflation really could get worse unless we actually significantly increase aggregate supply or decrease aggregate demand by such a level that it would take a a pretty bad recession to do so .

Imo what needed to be done was :

- We should have created an onshoring tax credit or just pass an border adjustment tax . This would be to bring back supply chains domestically  

- We should have expanded the QBI deduction as that would help small businesses expand which would also mean an increase in aggregate supply

- We need to ramp up energy production including the use of traditional sources

- Pass more bills like CHIPS for other related critical industries (I backed BIF and CHIPS)

[Yoda]

It's extraordinary what the Democrats have been able to accomplish with such historically thin majorities in government. Compare their record to the very few achievements the Republicans were able to get from 2017 to 2019 despite having more comfortable numbers in the House and Senate and you get a very stark contrast in competence between the two parties.

From 2017-19:

- We passed the most major tax reform bill since 1986
- Passed Deregulation Bills
- Passed the First Step Act
- Passed VA Reform
- Passed a Bill to tackle the Opioid Crises

"reform" LMAOOO

[Benjamin Frank]

It's extraordinary what the Democrats have been able to accomplish with such historically thin majorities in government. Compare their record to the very few achievements the Republicans were able to get from 2017 to 2019 despite having more comfortable numbers in the House and Senate and you get a very stark contrast in competence between the two parties.

From 2017-19:

- We passed the most major tax reform bill since 1986
- Passed Deregulation Bills
- Passed the First Step Act
- Passed VA Reform
- Passed a Bill to tackle the Opioid Crises

The first two of those are bad ideas, and as far as I can tell the opioid crisis continued to get worse under Trump's administration, whatever the merits of that bill.

Yes and conservatives like me think the first two bills  were great just like liberals like you think this bill is good .

All true conservatives should support the repeal of the Tax Cuts and Inflation Act (aka: welfare for corporations). Trillions of dollars down the drain, I'm tired of fiscal conservatives getting scammed by businesses who want a handout.

1.Right wingers oppose carbon taxes and cap and trade markets. So, that doesn't exist to combat global warming.

2.Right wingers oppose global warming environmental regulations and the extreme right wing Supreme Court might defacto strike them down anyway.

So, all that is left is subsidies to clean energy companies and other initiatives to reduce emissions to limit global warming.

I have no doubt you are an extreme right wing global warming denier.

What you support: burn, baby, burn.

[Benjamin Frank]

So it's official, every single Republican senator has now voted against reducing inflation.

This bill will do the opposite

There is no economic argument for this. You can certainly claim that it doesn't do much to reduce inflation and it's a politically motivated name, which I agree with (but still support the bill because it does some very basic important things like invest in clean energy independence and reduce the cost of medicine). But it doesn't have any real inflationary measures. It reduces demand and slightly increases supply.

It is a politically motivated name and the fact is inflation really could get worse unless we actually significantly increase aggregate supply or decrease aggregate demand by such a level that it would take a a pretty bad recession to do so .

Imo what needed to be done was :

- We should have created an onshoring tax credit or just pass an border adjustment tax . This would be to bring back supply chains domestically  

- We should have expanded the QBI deduction as that would help small businesses expand which would also mean an increase in aggregate supply

- We need to ramp up energy production including the use of traditional sources

- Pass more bills like CHIPS for other related critical industries (I backed BIF and CHIPS)

Never mind the other problems with this, at 3.9% unemployment, where are all these additional workers required going to come from? 

What would happen is these companies will poach employees from other companies, which is, all else being equal...inflationary.

[Kahane's Grave Is A Gender-Neutral Bathroom]

So it's official, every single Republican senator has now voted against reducing inflation.

This bill will do the opposite

There is no economic argument for this. You can certainly claim that it doesn't do much to reduce inflation and it's a politically motivated name, which I agree with (but still support the bill because it does some very basic important things like invest in clean energy independence and reduce the cost of medicine). But it doesn't have any real inflationary measures. It reduces demand and slightly increases supply.

It is a politically motivated name and the fact is inflation really could get worse unless we actually significantly increase aggregate supply or decrease aggregate demand by such a level that it would take a a pretty bad recession to do so .

Imo what needed to be done was :

- We should have created an onshoring tax credit or just pass an border adjustment tax . This would be to bring back supply chains domestically  

- We should have expanded the QBI deduction as that would help small businesses expand which would also mean an increase in aggregate supply

- We need to ramp up energy production including the use of traditional sources

- Pass more bills like CHIPS for other related critical industries (I backed BIF and CHIPS)

Deficits don't help with inflation. The issue with both the Biden and Trump relief bills was that they were throwing money at things, which resulted in a bunch of the money just sitting there or being misused. The IRA is legislation that is what we should have done in the first place.

[roxas11]

It's extraordinary what the Democrats have been able to accomplish with such historically thin majorities in government. Compare their record to the very few achievements the Republicans were able to get from 2017 to 2019 despite having more comfortable numbers in the House and Senate and you get a very stark contrast in competence between the two parties.

From 2017-19:

- We passed the most major tax reform bill since 1986
- Passed Deregulation Bills
- Passed the First Step Act
- Passed VA Reform
- Passed a Bill to tackle the Opioid Crises

This list only makes the GOP look even pathetic because trump had promised to pass an infrastructure bill, An Obamacare repel and immigration reform. In the end all they managed to get was a giant Tax cut for the wealthiest Americans and Trump had largely failed to deliver on most of his other major promises

Paul Ryan and Trump had bigger majorities in 2017 to 2019, yet Biden, Nancy Pelosi and Chuck Schumer was still able to accomplish way more than they did despite the fact that they only had a 50/50 senate...

[Amenhotep Bakari-Sellers]

Manchin and Sinema have tough races in 24 they wa t D's to hold the Senate in 24

As for TRUMP voters were begging him for campaign finance reform not just Immigration reform because of Ukraine impeachment and Mueller probe, and since McCain died there is no urgency to pass campaign finance reform from R's and that's why they blocked Voting Rights because ihad a ban on soft money

What happened to the R party happened to D's McCain died they lost their Patriarchal blessing and when Teddy Kennedy died we lost 2010 when Scott Brown won our leader on Obamacare, it's the same Obamacare Gore and Kerry ran off and Teddy Kennedy endorsed Kerry

[Sir Mohamed]

Thrilled this has passed the senate! Sure, not exactly what we wanted in terms of size, but given all circumstances, the best what we would get.

I'd just be mad at Dems, should we once again not be smart on messaging on that. Even with narrow majorities, Biden and Dems deliver results for the American people. The GOP has done nothing during the Trump years other than a tax giveaway to top income earners. Instead, Trump proclaimed infrastructure week frequently, but Biden actually got it done.

Dems actually govern, the GOP just screws things up and we're left with cleaning up their mess.

[riceowl]

It's extraordinary what the Democrats have been able to accomplish with such historically thin majorities in government. Compare their record to the very few achievements the Republicans were able to get from 2017 to 2019 despite having more comfortable numbers in the House and Senate and you get a very stark contrast in competence between the two parties.

From 2017-19:

- We passed the most major tax reform bill since 1986
- Passed Deregulation Bills
- Passed the First Step Act
- Passed VA Reform
- Passed a Bill to tackle the Opioid Crises

"reform" LMAOOO

Haha yeah. I'm old enough to remember that the purpose of the TCJA was to "simplify" the tax code, and one of the arguments used by R's last weekend against the IRS amplification was that the poor middle class would be too confused by...the tax code!

[thetenacioustexan]

Yes and conservatives like me think the first two bills  were great just like liberals like you think this bill is good .

All true conservatives should support the repeal of the Tax Cuts and Inflation Act (aka: welfare for corporations). Trillions of dollars down the drain, I'm tired of fiscal conservatives getting scammed by businesses who want a handout.

Corporate Tax increases will be passed on to the consumer so no

It's irrelevant where it's passed on. As conservatives, our #1 priority should be balancing the budget to pay down the debt. Anything more than that is no more than welfare.

You should have told President Trump that in 2017.

I don't have a direct line to Donald Trump. However, the Tax Cuts and Inflation Act (popularly known as TCJA) is what I was referring to.

[thetenacioustexan]

It's extraordinary what the Democrats have been able to accomplish with such historically thin majorities in government. Compare their record to the very few achievements the Republicans were able to get from 2017 to 2019 despite having more comfortable numbers in the House and Senate and you get a very stark contrast in competence between the two parties.

From 2017-19:

- We passed the most major tax reform bill since 1986
- Passed Deregulation Bills
- Passed the First Step Act
- Passed VA Reform
- Passed a Bill to tackle the Opioid Crises

The first two of those are bad ideas, and as far as I can tell the opioid crisis continued to get worse under Trump's administration, whatever the merits of that bill.

Yes and conservatives like me think the first two bills  were great just like liberals like you think this bill is good .

All true conservatives should support the repeal of the Tax Cuts and Inflation Act (aka: welfare for corporations). Trillions of dollars down the drain, I'm tired of fiscal conservatives getting scammed by businesses who want a handout.

1.Right wingers oppose carbon taxes and cap and trade markets. So, that doesn't exist to combat global warming.

2.Right wingers oppose global warming environmental regulations and the extreme right wing Supreme Court might defacto strike them down anyway.

So, all that is left is subsidies to clean energy companies and other initiatives to reduce emissions to limit global warming.

I have no doubt you are an extreme right wing global warming denier.

What you support: burn, baby, burn.

I do support those things. We need to balance the budget, and all true conservatives would support this bill for getting us closer (my original post was referring to TCJA).

[OSR stands with Israel]

So it's official, every single Republican senator has now voted against reducing inflation.

This bill will do the opposite

There is no economic argument for this. You can certainly claim that it doesn't do much to reduce inflation and it's a politically motivated name, which I agree with (but still support the bill because it does some very basic important things like invest in clean energy independence and reduce the cost of medicine). But it doesn't have any real inflationary measures. It reduces demand and slightly increases supply.

It is a politically motivated name and the fact is inflation really could get worse unless we actually significantly increase aggregate supply or decrease aggregate demand by such a level that it would take a a pretty bad recession to do so .

Imo what needed to be done was :

- We should have created an onshoring tax credit or just pass an border adjustment tax . This would be to bring back supply chains domestically  

- We should have expanded the QBI deduction as that would help small businesses expand which would also mean an increase in aggregate supply

- We need to ramp up energy production including the use of traditional sources

- Pass more bills like CHIPS for other related critical industries (I backed BIF and CHIPS)

Deficits don't help with inflation. The issue with both the Biden and Trump relief bills was that they were throwing money at things, which resulted in a bunch of the money just sitting there or being misused. The IRA is legislation that is what we should have done in the first place.

That’s if they are primarily aimed at increasing demand which these  bills are not as they are primarily aimed at increasing supply

[GeorgiaModerate]

https://twitter.com/EWErickson/status/1556291830052196352

Erickson, who you might have guessed is still quite bitter about the Georgia Senate runoffs, has taken to calling the bill the "Trump-Shafer Inflation Act".  (David Shafer is the chairman of the Georgia GOP and a 2020 election denier.)

[President Johnson]

Congratulations to President Biden and the Democrats! This is still a major success and the most that was possible under these circumstances. Although a lot remains to be done, Biden has actually achieved a lot of meaningful stuff.

I'm just not sure whether the effects will be felt soon enough to make a difference in November. But optics is also important and the notion that key still can get things done.

[windjammer]

https://twitter.com/EWErickson/status/1556291830052196352

Erickson, who you might have guessed is still quite bitter about the Georgia Senate runoffs, has taken to calling the bill the "Trump-Shafer Inflation Act".  (David Shafer is the chairman of the Georgia GOP and a 2020 election denier.)

This Guy has always been a hypocrite

[President Johnson]

Would anyone predict the final vote margin in the House? Will it be exactly along party line of member present?

I would just guess something like 218-209.

[jaichind]

Bloomberg analysis says most projects from this new bill will take place in Red districts. 

[Brittain33]

Bloomberg analysis says most projects from this new bill will take place in Red districts.  

Well sure, wind and solar investment…

Curious what’s happening in Illinois? Nuclear?

[OSR stands with Israel]

So it's official, every single Republican senator has now voted against reducing inflation.

This bill will do the opposite

There is no economic argument for this. You can certainly claim that it doesn't do much to reduce inflation and it's a politically motivated name, which I agree with (but still support the bill because it does some very basic important things like invest in clean energy independence and reduce the cost of medicine). But it doesn't have any real inflationary measures. It reduces demand and slightly increases supply.

It is a politically motivated name and the fact is inflation really could get worse unless we actually significantly increase aggregate supply or decrease aggregate demand by such a level that it would take a a pretty bad recession to do so .

Imo what needed to be done was :

- We should have created an onshoring tax credit or just pass an border adjustment tax . This would be to bring back supply chains domestically  

- We should have expanded the QBI deduction as that would help small businesses expand which would also mean an increase in aggregate supply

- We need to ramp up energy production including the use of traditional sources

- Pass more bills like CHIPS for other related critical industries (I backed BIF and CHIPS)

Never mind the other problems with this, at 3.9% unemployment, where are all these additional workers required going to come from? 

What would happen is these companies will poach employees from other companies, which is, all else being equal...inflationary.

From people who are underemployed and those who who stopped being part of the labor workforce participation rate.