President Biden is on the road across the U.S. again this week in order to try and sell two bill he would like to see become law to the American people.
Combined, the American Jobs Act and the American Families Plan would cost roughly $4 trillion, with Biden proposing that taxes be raised on wealthier Americans and larger businesses in order to pay for it.
“This idea of paying for it with taxes, that’s a smokescreen,” said Sen. Mike Braun (R-IN) to Fox News.
Braun is one of many Republicans on Capitol Hill who are pushing back on both items saying that the price tag is just too big. Braun said that most of the money to pay for the plans would actually be borrowed.
In the long run, Braun feels borrowing and spending this much money will hamper the economy in the long run.
“The real consequences will probably be felt post-2022,” he said. “Inflation’s had a lid on it due to global economy keeping cost-push inflation down. When you flood this much monetarily, something has to give.”
The American Jobs Act would spend money fixing roads and bridges as well as invest in expanding broadband Internet to places that don’t have it. It would also expand access to caregiver jobs and paid medical leave.
The American Families Plan increases taxes on wealthier Americans to 39.6-percent, sets aside money to pay for two years of free community college for people who want post-secondary education, and also has funding for access to free preschool for children.
Many of these ideas are appearing to be appealing to many Americans regardless of the cost.
“I do acknowledge that they’re popular, but if you told them that you are borrowing from your kids and grandkids, do you think they would be that warm and fuzzy about it,” Braun asked.
“There will be a sugar high from all this spending,” he added. “And when you are doing it on popular things like infrastructure and child care, sure we need to look at it, but we are borrowing every penny to do it.”
