While proponents of a Biden-initiated $3.5 trillion infrastructure package like to say that most Americans support the legislation, a new poll says that is not even close to true.
When the Trafalgar Group asked 1000+ voters whether they would be less likely to support the bill if it increased taxes and the national debt, 71% said yes — and the vast majority of those, 67%, were in the “much less likely” category.
It wasn’t just Republicans either — just over half of Democrats surveyed said they would be less likely to support the bill if taxes and the debt were raised.
Currently, the so-called “Build Back Better” plan includes raising the corporate tax rate 5.5 points to 26.5%, and the top personal income tax rate to 39.6% from the current 37%. A 3% surcharge would be added to household incomes over $5 million.
Biden had pledged not to raise taxes on incomes under $400,000, but experts have said that the $3.5 trillion plan breaks that promise in key ways. Over time, the majority of middle-class Americans would pay more taxes under Biden, according to the Tax Foundation and the left-leaning Tax Policy Center.
Republicans and even a few centrist Democrats think $3.5 trillion is too much to spend, and believe the tax increases in the bill are too steep.
When added together, the majority of lawmakers in the Senate agree that the U.S. can’t afford to spend another $5 trillion on top of the already huge annual budget and the extra $4 trillion that was already spent since the beginning of the COVID-19 pandemic.
In effect, the U.S. doubled its spending in a year’s time by handing out overly generous unemployment benefits, and PPP “loans” that didn’t get paid back in many cases, not to mention the several rounds of stimulus checks.
The huge increase in spending has already led to 30-year inflation highs, which has people wary of even more spending and higher taxes that will only cost them even more money.
“Almost nobody supports Biden’s runaway spending spree, and folks are outraged that — with everything else they’ve had to endure with this failed presidency — increasing taxes and adding to our astronomical debt are actually on the table,” president of the Convention of States Action Mark Meckler said.
The Convention of States Action commissioned the poll.
As things stand, the $3.5 trillion spending package will need to be significantly smaller in order to pass, even under budget reconciliation, which doesn’t require a single Republican vote.