PRESS RELEASE: LAUGHABLE: GOP DRAWS “RED LINE” FAVORING CUTS TO SCHOOLS, ELDER CARE; AGAINST POPULAR CORPORATE TAX INCREASE

FOR IMMEDIATE RELEASE
April 15, 2021

Contact: 
Maddy McDaniel, Communications Director

[email protected] or 914-471-7716

LAUGHABLE: GOP DRAWS “RED LINE” FAVORING CUTS TO SCHOOLS, ELDER CARE; AGAINST POPULAR CORPORATE TAX INCREASE

Invest In America Action: “How is President Biden supposed to work with people who refuse to come to the negotiating table with serious good faith proposals?” They are “taking a harder line against increasing the corporate tax rate than many corporations themselves.” 

Majority Of Voters Believe Republicans Should Work With, Rather Than Obstruct, President Biden To Pass An Infrastructure Plan

Majority of Republican Voters Support The American Jobs Plan’s Proposal To Improve Caregiving For The Elderly (64%) And To Build And Improve Public Schools (62%)

73% of Voters, Including 67% of Independents and 57% of Republicans, Support the Proposed $2.25 Trillion American Jobs Plan

Senator Shelley Moore Capito (R-WV) On GOP $600 Billion Proposal That Eliminates Funding For Schools & Elder Care: “It’s just a ballpark figure. It doesn’t — it may not even be that much. I don’t know. I just kind of threw that out as a talking point.”

WASHINGTON, DC — Today, Senate Republicans held a press conference once again proving they would rather play politics with people’s lives than come to the table in good faith to negotiate the American Jobs Plan, a once-in-a-generation infrastructure bill that would help turbocharge the economy and rebuild the nation’s crumbling infrastructure.

In response to the American Jobs Plan, Senate Republicans today:

  • Called for cutting out funding for American schools, manufacturing, the elderly and more. In fact, Senator Shelley Moore Capito — who just yesterday referred to these investments as “all of these kinds of things” — has admitted that the GOP’s $600-800 billion figure that excludes funding for school kids, essential care workers and US manufacturing was actually just thrown out there “as a talking point.”
  • Said that corporate tax increases to pay for the proposal were a “non-negotiable red line.”
“How the heck is President Biden supposed to work with people who refuse to come to the negotiating table with serious good faith proposals? Zeroing out funding for school children and grandma’s care workers is not a reality based counter-offer. Nor is taking a harder line against increasing the corporate tax rate than many corporations themselves.” said Zac Petkanas, senior advisor for Invest in America Action. “President Biden has been reaching out to Republicans to pass much-needed infrastructure funding in the American Jobs Plan, but today’s press conference is proof positive that they just aren’t serious about working with him on anything.”

Several corporations, including AmazonLyft and Salesforce have voiced support for raising the corporate tax rate and recognize the need to make concessions as our country and economy build back better.

Americans need major public investments to address the problems exacerbated by the pandemic.  
  • The U.S. labor market is still down over 8 million jobs from pre-pandemic levels.
  • According to the American Society of Civil Engineers (ASCE), the United States faces a $2.59 trillion shortfall in infrastructure investment and $5.9 trillion in infrastructure needs, including rebuilding and repairing roads, bridges, schools, and protecting access to clean water.
  • ASCE predicts that failure to address the nation’s crumbling infrastructure could cost the United States $10 trillion in GDP, more than $23 trillion in total output, 3 million jobs, and more than $3,300 in a family’s annual disposable income.
Infrastructure and economic experts agree that a multi-trillion dollar investment in infrastructure will boost the economy by creating millions of jobs and increasing productivity.
  • S&P Global projects that the Build Back Better plan’s public infrastructure investments will generate 2.3 million jobs by 2024, inject $5.7 trillion into the economy, and increase per-capita income by $2,400.
  • According to the Economic Policy Institute, infrastructure investments are consistently estimated to provide greater economic stimulus than almost any form of a tax cut.
  • Increased public infrastructure investments increase output in both the short and long term, per the International Monetary Fund.

About Invest in America

Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.

The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.

Learn more at InvestInAmericaNow.com and @InvestNowUSA, and InvestinAmericaProject.com.

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