We’re just over one week into the Biden administration and there are already indications that his campaign promise not to raise taxes on those who make under $400,000 was an empty one.
Joe Biden himself has remained silent on some of his bigger policy priorities as the Senate readies for an impeachment trial and congress haggles over another round of stimulus, but Commerce Secretary nominee Gina Raimondo was more open than her boss during her confirmation hearing.
From The Blaze:
Raimondo was asked by Sen. Rick Scott (R-Fla.) to comment on whether she would be in favor of new taxes including a gas tax.
“Let me say this. I, as governor, am deeply in touch with how much increasing bills affect the average American family,” responded Raimondo.
“Having said that, we do need to meet the climate change challenge and we need funds for improved infrastructure – better roads, safer roads, safer bridges – which also creates jobs. So I would look to balance those interests and work as a piece of the president’s team,” she added.
But on the campaign trail, Biden was adamant that any new tax increases he sought would be targeted specifically at the rich.
“Nobody making under 400,000 bucks would have their taxes raised. Period. Bingo. Let’s get people back to work. Let’s get them to work,” Biden said in May.
According to a University of Illinois analysis, just raising the gas tax itself would have severe implications for low and middle-income earners while having little benefit on the environment.
One of Biden’s first actions as president was to issue an executive order aimed at fighting climate change, but it comes with a steep price tag of about $2 trillion. Biden also promised an ambitious $2 trillion infrastructure plan on the campaign trail, raising questions as to where the funding for his climate and infrastructure agenda will come from.
While not a direct tax on the incomes of middle class earners, the apparent way forward favored by the administration could cause them to shoulder the larger share of the burden nonetheless.
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