After a meeting with the President on April 30, Democratic leaders, House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer, announced that they had agreed with the President to work towards a $2 trillion infrastructure plan. The $2 trillion figure is seen by many as an ambitious, given the contentious nature of the debate on how to raise revenue to fund such a plan. Democratic leaders and the President plan to meet again in three weeks to discuss revenue sources.
Following the announcement of $2 trillion funding goal on Tuesday, several Republican members of Congress highlighted their concerns over funding and voiced their opposition to measures that would raise taxes. Democrats made clear that one path they see forward to paying for the infrastructure package would be through revisions to the 2017 tax law to roll back some of the tax cuts given to the highest earners and corporations. A revision of that sort is largely seen as a non-starter for Republicans who feel the 2017 changes to the tax code have been essential to maintaining the country’s economic growth.