Biden’s administration is growing impatient as a lack of productivity and movement relating to the infrastructure bill that he proposed is now becoming apparent. Several of Biden’s advisors are starting to indicate that he may not have any other choice than to negotiate with members of the opposing political party, despite holding majorities in both the House of Representatives and the Senate.
The infrastructure bill is controversial for many different reasons. One reason is that the corporate tax rate would be raised significantly from where it currently rests. This could have a horrible impact on domestic stock markets and the U.S. economy.
Spending is a major concern and Republicans want to see the costs of the infrastructure come down significantly. At the same time, Democrats want to keep spending high so that they can keep as many of their own party’s provisions in the legislation as possible.
Biden faces a tough task as even moderate members of his own political party have expressed concerns over the significant increase in the corporate tax rate. If Biden’s proposal can’t even hold enough support from his own political party’s moderate representatives, then there’s absolutely no chance that Republicans will show any support for it.
In other words, Biden’s infrastructure bill is dead in the water unless he starts negotiating in a bipartisan manner right now. He has that opportunity over the next several weeks and if he takes advantage of it, he may end up with a bipartisan infrastructure bill that has a great impact on the country. On the other hand, Biden could decide to veer away from negotiations and shift his focus away from infrastructure completely.