Posted: Apr 1, 2021 / 06:57 PM CDTUpdated: Apr 1, 2021 / 06:57 PM CDT
President Joe Biden’s $2 trillion infrastructure plan was unveiled on Wednesday. It’s said to put $621 billion toward roads, bridges and railways.
For our April 1 edition of KX Conversation, Sen. John Hoeven joined us.
Hoeven said Wednesday that infrastructure is a bipartisan effort, but that he doesn’t fully support the president’s plan.
Hoeven said infrastructure is important, but the price tag is a draw back.
“This bill is over $2 trillion and that’s just beyond what we should be doing. I think we can come together on a bipartisan– come up with a reasonable package that gets the job done that finds a way to pay for it without increasing taxes,” he said.
A corporate tax hike from 21% to 28% would be where a significant portion of the funds come from for this plan, which is what Hoeven referenced. We know infrastructure improvements are needed in this country, so where does Sen. Hoeven propose those funds come from?
He proposed using the Highway Trust, but with modifications.
“Right now the only ones paying in are cars that run on gas. Well, why not these alternative vehicles? Right there you have a revenue source without increasing taxes and it’s a fairness issue and that’s a growing source and then same thing with energy development on federal lands. This administration has put a moratorium on that. If we do more of that we generate more revenue without raising taxes,” Hoeven said.
We also discussed the Green New Deal, and more.