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Voters Like Biden’s Infrastructure Plan; Taxes Are an Issue

Voters Like Biden's Infrastructure Plan; Taxes Are an Issue

ECONOMIC NEWS

Voters Like Biden’s Infrastructure Plan; Taxes Are an Issue

Some Republicans are floating the possibility of putting forward a counterproposal that addresses more traditional infrastructure needs and removes the corporate tax increases. Senator Shelley Moore Capito of West Virginia suggested that such a proposal could be between $600 billion and $800 billion.“I think the best way for us to do this is hit the sweet spot of where we agree, and I think we can agree on a lot of the measures moving forward,” Ms. Capito said on CNBC on Wednesday. She suggested that Democrats save proposals with less bipartisan support for the fast-track budget reconciliation process, which would allow the legislation to pass with a simple majority.“If there are other things they want to do — they being the Democrats or the president — want to do in a more dramatic fashion that can’t attract at least 10 Republicans, that’s, I think, their reconciliation vehicle,” Ms. Capito added.But several liberals have signaled a reluctance to whittle down Mr. Biden’s plan, with Senator Bernie Sanders of Vermont, the chairman of the Senate Budget Committee, telling reporters that the tentative price range “is nowhere near what we need.”The Biden administration is rolling out its infrastructure plans from a position of relative strength. Voters generally give Mr. Biden high marks for his performance in office, at least in comparison with Mr. Trump’s consistently low approval ratings, and Americans are becoming more optimistic about the economy in particular. Measures of consumer sentiment have been rising in recent months; SurveyMonkey’s consumer confidence index, which is based on five questions about people’s personal finances and economic outlook, rose in April to its highest level in six months.But views of the economy remain starkly divided along partisan lines. Confidence among Democrats jumped when Mr. Biden was elected and has continued to rise since. Republicans, who had a rosier view of the economy than Democrats throughout Mr. Trump’s time in office, have turned pessimistic since the election.About the survey: The data in this article came from an online survey of 2,640 adults conducted by the polling firm SurveyMonkey from April 5 to 11. The company selected respondents at random from the nearly three million people who take surveys on its platform each day. Responses were weighted to match the demographic profile of the population of the United States. The survey has a modeled error estimate (similar to a margin of error in a standard telephone poll) of plus or minus three percentage points, so differences of less than that amount are statistically insignificant.


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