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McConnell Unlikely To Support Infra Plan Due To 'Massive Tax Increases'

US

Senate Minority Leader Mitch McConnell (R-KY) has stated that he is unlikely to support the Biden administration's multi-trillion dollar infrastructure plan due to the associated "massive tax increases" and potential impact on the national debt.

  • The comment comes as little surprise, with Congressional Republicans likely to oppose the plan and associated tax increases across the board.
  • In the Senate, a reconciliation process is likely to be needed to avoid a filibuster and allow the plan to pass on a simple majority (potentially needing VP Kamala Harris to cast the tie-breaking vote). This legislative procedure was also used to pass for the USD1.9trn COVID-19 recovery package earlier this year.
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