According to the Wall Street Journal, President Biden is proposing the biggest tax increase since the late 1960s. Republicans didn’t get elected to revive the era of Lyndon Johnson.
President Biden abandoned bipartisan infrastructure talks with Senate Republicans on Tuesday over the party’s unwillingness to compromise on raising taxes.
The White House said Mr. Biden decided to jettison talks because Republicans were not ready to “meet the essential needs of our country to restore our roads and bridges, prepare us for our clean energy future, and create jobs.”
Republicans blamed the president for not backing off on his plan to raise taxes.
“I spoke with the president this afternoon, and he ended our infrastructure negotiations,” said Republican Sen. Shelley Moore Capito of West Virginia, who had led the GOP’s talks with the White House. “Despite the progress we made in our negotiations, the president continued to respond with offers that included tax increases as his pay-for, instead of several practical options that would have not been harmful to individuals, families and small businesses.”
The announcement came shortly after congressional leaders on both sides of the aisle signaled the talks had stalled. Senate Majority Leader Charles E. Schumer, New York Democrat, summed up the talks as having run “into a brick wall.”