US Chamber: Trump is ‘wrong’ in terms of infrastructure bill

Trump, who has long been an advocate for infrastructure spending, issued a statement last weekend in which he claimed that only 11% of the $ 1.2 trillion package goes to “real” infrastructure. The former president, who repeatedly tried and failed to pass an infrastructure bill while in the White House, argued that Republican lawmakers should be ashamed of themselves.

Neil Bradley, Chief Policy Officer at the U.S. Chamber of Commerce, told CNN that Trump is “wrong.”

“There’s a lot of misinformation around this bill, including that only a small amount goes to infrastructure,” Bradley said in an interview.

The head of the Chamber of Commerce pointed to hundreds of billions of dollars set aside for roads, transit, airports and shipping ports. And the legislation also calls for major investment in broadband and the U.S. power grid.

“It’s hard to say that the internet and electricity do not count as infrastructure,” Bradley said.

The business community loudly supported the infrastructure bill, which President Joe Biden plans to sign into law on Monday.

“We are delighted to finally make a long-awaited investment in our nation’s infrastructure,” Bradley said.

Inflation concerns

The department remains committed to blocking the comprehensive economic and climate package that the White House hopes to get through Congress in the coming weeks on a biased basis through reconciliation.

“We still have a very high level of concern about the reconciliation package,” Bradley said.

Bradley is skeptical of the $ 1.9 trillion price tag on the proposal, down from $ 3.5 trillion earlier, because he said Democrats are likely to try to extend important policies such as the child tax deduction instead of letting them stall. .

“This is a kind of shell game,” he said.

Bradley also argued that the reconciliation package could further inflame the United States’ worsening inflation problem. U.S. consumer prices rose in October at the fastest 12-month rate since the late 1990s.
America's prices are rising more than they have done for 30 years

In contrast, Moody’s Analytics released a report last week on the impact of both the infrastructure and the voting packages, finding that “concerns that the plan will ignite undesirably high inflation and an overheating economy are exaggerated.”

Moody’s pointed to the long – term nature of the expenditure as well as the efforts in the legislation to ease inflation, including lowering the cost of medicines and easing the financial burden of childcare, education and housing.

Bradley admitted that some parts of the reconciliation package “may be deflationary”, but said “other aspects may be quite inflationary.”

The department will continue to fight Biden’s signature law

Not surprisingly, the chamber’s biggest concern is over changes in tax law that the group claims will put U.S. companies at a competitive disadvantage on the world stage.

Bradley signaled that the chamber will continue its ad blitz against the legislation.

“I suppose we will continue to advertise,” he told CNN.

The House’s strong opposition to the tax proposal has irritated the Biden administration. Trade Secretary Gina Raimondo told CNN in September that the chamber’s advertising flash is “not helpful” and urged the group to work with the White House. “Come in here and let’s do the hard work of compromising,” she said.

Patagonia’s CEO shouts Chamber, business leaders

Referring to the Reconciliation Package’s aggressive climate investment, Patagonia CEO Ryan Gellert criticized the chamber in a recent LinkedIn post for “working to stop and weaken this historic legislation” and spend millions on pressuring moderate lawmakers to “vote against the planet.”

The Patagonia chief summoned business leaders to claim that they support climate action, but then support industry associations such as the Chamber that opposes this legislation.

“It’s no longer ok for them to hide behind groups doing their dirty work,” Gellert wrote.

Bradley pushed back against the comments from Patagonia’s CEO.

Prices are skyrocketing.  Goldman Sachs says prices will be even higher

“It’s badly grounded,” he said in the interview. “It is part of a broader message that if you support climate action, and the House strongly supports climate action, then you need to support the reconciliation proposal. That might be the case if the reconciliation proposal was just a climate bill.”

Bradley also suggested that the chamber could even throw its weight behind the legislation’s climate provisions in the reconciliation package if they were removed and put into a separate bill.

“An independent climate law that largely reflects what is in the current reconciliation package … We wanted some suggestions and adjustments, but I think we could find agreement,” he said.

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