“This is a bold, neosocialist experiment. I mean, this will be over $4 trillion of spending in less than a hundred days and by spending this massive amount of taxpayer money, it’s clear, to me, that the Biden administration is moving more toward the Chinese model of capitalism where the biggest player in the economy is government,” Kennedy said during an appearance on Fox News Thursday.
Watch his remarks below:
Sen. John Kennedy (R-LA) calls President Biden’s infrastructure plan “a bold, neosocialist experiment.”
He adds: “The Biden administration is moving more toward the Chinese model of capitalism …” pic.twitter.com/sZ7Eg5sGgz
— The Recount (@therecount) April 1, 2021
Biden’s plan includes $621 billion to rebuild roads, bridges, highways and ports and $174 billion for the electric vehicle market. The administration will also request $400 billion for providing more access to affordable home or community-based care for older Americans and those with disabilities.
Other provisions include $213 billion to build and retrofit affordable and sustainable homes and billions for manufacturing, the country’s electric grid, high-speed broadband nationwide, and water systems to guarantee clean drinking water.
“It’s a once-in-a-generation investment in America, unlike anything we’ve seen or done,” Biden said during a visit to Pittsburgh. “It’s big, yes. It’s bold, yes. And we can get it done.”
Biden is expected to release another economic proposal in April bringing the price tag to a total of $4 trillion.
Conservatives have voiced their opposition to the proposal, including Senate Minority Leader Mitch McConnell (R-Ky.).
“If it’s going to have massive tax increases and trillions more added to the national debt, it’s not likely,” he said after a phone call with the president.
He said it is a “massive giveaway to China, and many other countries.” Trump also suggested the plan is a “heartless attack on the American dream.”
The president is planning on paying for his package by increasing the corporate tax rate to 28% from 21%.
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