The so-called budget reconciliation rules can now be used more often than expected — giving Democrats a fresh new path around the GOP blockade. Where Biden sees an urgency in going big, Republicans want a narrow plan that focuses on roads and bridges, and warn that any corporate tax increase would crush economic growth. The 2017 GOP tax bill, which all the Republicans voted for, slashed the corporate rate from 35% to 21%. On Monday, Sen. Joe Manchin, D-W.Va., indicated he would prefer a corporate tax rate at 25%, lower than what Biden is proposing. Sen. Roy Blunt, R-Mo., a member of Senate GOP leadership, said Sunday a smaller infrastructure package of about $615 billion, or 30% of what Biden is proposing, could draw bipartisan support.

Source: ABC News April 06, 2021 05:51 UTC