Sen. Mitch McConnell threw cold water on plans by Senate Democrats to spend more than $1 trillion on infrastructure without paying for it, and compared it to President Obama’s much-criticized stimulus bill.
“I don’t think we ought to borrow almost a trillion dollars and plus up a bunch of federal accounts, incur additional debt and don’t build any projects to speak of,” said McConnell, R-Ky. “What I’m against is a replication of the Obama stimulus package of 2009.”
Senate Minority Leader Chuck Schumer on Tuesday announced a $1.05 trillion proposal to fix roads and bridges and carry out water, sewer and other infrastructure projects. Democrats are hoping to collaborate with President Trump, who during his campaign pitched a plan to spend $1 trillion infrastructure.
But Trump is unlikely to gain support for his plan from the GOP-led Congress unless the proposal is paid for. Republicans are nearly universally opposed to spending that adds to the deficit or the debt, which has grown to nearly $20 trillion.
Some Republicans and Democrats have called for using tax revenue produced from reforming the corporate tax code to pay for infrastructure. McConnell, however, wants to use tax reform revenue to lower taxes overall.
House GOP leaders said they plan to carve out funding for infrastructure in their fiscal 2018 budget. McConnell is apparently going to wait for the new president to send his plan to Congress.
McConnell said a “team” from the Trump administration is writing an infrastructure proposal and will work with the incoming transportation secretary, who happens to be McConnell’s wife, Elaine Chao.
“They are going to come up with a proposal and we’ll take a look at it,” McConnell said. “I hope it will be something credibly paid for.”
