Source: United States Senator for Ohio Rob Portman
July 13, 2021 | Portman Difference
This morning on Fox Business’ Varney & Co, Senator Portman joined host Stuart Varney to discuss the current bipartisan infrastructure package, including real core infrastructure, with no tax increases. Senator Portman addressed Senator Bernie Sanders’ support for the president’s $6 trillion infrastructure proposal, saying that the proposal is not about infrastructure, but about social spending that will put more pressure on inflation. The Labor Department released their latest inflation report today, showing that inflation continued to surge in the month on June, rising at its fastest pace in nearly 13 years.
Senator Portman also addressed the protests against the Communist Party of Cuba that have broken out in recent days. Senator Portman urged the U.S. to strongly support the people of Cuba in their calls for freedom from the communist regime, as well as for stability and security.
Excerpts from the interview can be found below and you can watch the interview here.
PORTMAN ON THE BIPARTISAN INFRASTRUCTURE DEAL VS DEMOCRATS’ $6 TRILLION PROPOSAL:
“There are two different things going on, on separate tracks. One is the bipartisan process, which will be done with a 60-vote margin, and that is about real core infrastructure, with no taxes. President Trump signed the 2017 tax cuts and tax reforms into law and the economy took off. We cannot increase taxes right now. So that is in the bipartisan proposal. That’s the proposal that’s $579 billion over the next five years. Then separately there’s this, what’s called, reconciliation package, which is also called by the Democrats, the American Families Plan. That is what Senator Sanders is talking about. There they are going to have a lot of tax increases – the biggest tax increases in American history if they get their way – and we’ll see what the number is. He wants $6 trillion, others say they want $3.5 trillion. But all of that, by the way, is more spending, as opposed to infrastructure, which helps on the supply side – in other words, it’s to build more bridges and roads and so on. What he’s talking about more social spending, which will add to the demand side, which will put even more pressure on inflation. After the numbers that came out today I really hope they are not successful in that because it will increase inflation and take us much further into deficit spending.”
“The difference is we have to get 60 votes, whereas they can do theirs under this special procedure that’s only for budget-related items at 50 votes called reconciliation. For us to get 60 is obviously a bigger lift. On the other hand, Stuart, they have to get every Democrat because I hope no Republican would support that because again, it’s going to really hurt the economy, hurt working families all over America, because when you increase taxes on the businesses, you are also increasing taxes on people. And what the Congressional Budget Office, nonpartisan group, tells us is that 70 percent of the tax cuts and, therefore, 70 percent of these tax increases go into workers’ wages and benefits. So I hope no Republican will support it. They’ve got to get all Democrats and frankly, there are, I think, a few Democrats who are a little skeptical about the level of spending and the level of tax increases.”
PORTMAN ON PROTESTS IN CUBA:
“This is historic, and we have to realize that not since probably the late 1950s have we seen protests like this on the streets of Havana and elsewhere in Cuba. These people are brave, they’re, as you know, being harassed and I’m sure many arrested and many are being mistreated because of simply demonstrating, and having the ability to speak out is just not something that is found in Cuba. So this is historic and I think there is an opportunity here for America to strongly support those who are taking to the streets. And by the way, it is about the economy and it is about food insecurity and so on, but it’s also about politics, because they are saying ‘we want freedom,’ and you hear that in these protests as well.”
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