SPRINGFIELD – As Washington continues to haggle over an infrastructure bill, a free enterprise organization is targeting Congressman Adam Kinzinger’s Illinois district to voice opposition to the package.
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The group Club for Growth recently bought television ads in Illinois’ 16th congressional district opposing the over $3 trillion tax increase proposed in the reconciliation bill. The ad was called “Pickpocket” and ran for one week.
“Washington is out of touch with America,” Club for Growth President David McIntosh said. “Republicans need to realize that their constituents will roundly reject the out-of-control spending and $3 trillion increase in taxes.”
The Joint Committee on Taxation estimates the tax changes would raise more than $2 trillion in revenue over 10 years, with roughly $1 trillion in tax increases from high-income Americans and nearly $1 trillion in corporate and international tax reforms.
Because the bill is opposed by Republicans, Democrats are trying to enact it through a budgetary process called reconciliation, solely with Democratic support. But this would require a “yes” vote from every Senate Democrat, and two of them, Kyrsten Sinema and Joe Manchin, say they won’t support it unless the price comes down.
The legislation would fund numerous things from free community college, the expansion of Medicare, and paid family and medical leave.
It could also use tax credits and other incentives to encourage the adoption of green energy and the construction of infrastructure more resilient against severe weather. Democrats say they plan to offset the sending with tax increases on corporations and the wealthiest Americans.
The corporate tax rate would rise from 21% to 26%, and the top income tax rate for Americans making over $400,000 would increase from 37% to 39.6%. The top capital gains rate would go from 20% to 25%.
Illinois U.S. Sen. Tammy Duckworth told the Paul Simon Policy Institute at Southern Illinois University the package must be approved for the United States to remain a global leader.
“How do we compete with the likes of South Korea, Germany and China if we don’t have world-class infrastructure, so we need to do that,” Duckworth said.
Democrats say they hope to pass President Joe Biden’s economic agenda by the end of October.
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