While Democrats have been negotiating on an infrastructure bill with Republicans, behind the scenes they have been crafting a bill that is far more expensive and liberal, with Sen. Bernie Sanders, I-Vt., pushing it forward.
Republicans and Democrats have been working together on an infrastructure bill, with the most recent totals coming in anywhere between roughly $500 billion and $1.7 trillion.
But this secret Democrat bill?
It’s way bigger.
According to media reports, this new bill is a whopping $6 trillion. That’s as much as President Joe Biden’s entire budget, which was already unfeasibly expensive.
“It’s what the American people want,” Sanders said Thursday. “Virtually every proposal I’ve included in that budget is exactly what the American people want. They want us to create millions of good paying jobs and to do the other things that are long overdue.”
The plan is reportedly what Democrats may resort to if they decide to abandon getting Republican support. But many moderate Democrats will have trouble voting for a bill that large.
According to a tentative plan, half of the proposed Democrats-only alternative would be paid for. About $2.5 trillion would go through the Finance Committee, $185 billion through the Energy Committee and almost $500 billion through the Environment and Public Works Committee, one source said, while emphasizing that the discussions are fluid. The dollar amount, however, is likely to shrink as moderates weigh in. At the moment, it appears impossible that all 50 Democrats would get on board with such a large figure.
A recent report analyzing Biden’s budget with the much smaller, $2 trillion infrastructure bill found it would seriously hurt the economy.
“We estimate that Biden’s spending proposals would increase long-run GDP by 0.3 percent, due to enhanced public infrastructure,” the report says. “However, this positive economic effect is entirely offset by the increase in corporate and individual taxation, resulting in less work and investment, which in combination with the spending reduces GDP by 0.9 percent in the long run, reduces wages by 0.8 percent, and eliminates 165,000 full-time equivalent jobs.”