Recently, we posted an article (… available HERE) on the initial proposition made to Republicans by Democratic law makers on a “watered down” version of the overall Biden infrastructure bill that many had hopes would lead to an agreement that would eventually put a hold on the bickering in D.C. and actually produce something for the American citizen.
Those initial hopes for a bipartisan infrastructure agreement imploded this week, however, as, both, Democratic and Republican leaders could not find their way to a mutual agreement.
While Democrats continue to push for an agreement on at least this first part of the overall Biden plan to help get the country back on track, Republican leaders continue to feel that the Democrats are trying to pull a fast one on Americans by slipping in hidden left leaning agendas into what is being presented to the public as an otherwise universally agreed upon topic… Rebuilding the American infrastructure.
As a direct result of the recent collapse of bipartisan negotiations, Democrat officials are now expected to work their magic once again and try to get the bill passed in total without the help from their Republican counterparts. A task that, while unpopular, has been done previously by both parties when holding the house and/or Senate majority.
After weeks of negotiations between President Biden and Senator Shelley Moore Capito, the two sides have officially thrown in the towel on hopes that the two rival parties will be able to come to an agreement on the proposal.
… And who’s to blame for the collapse? That depends on who you ask… Officials from both sides of the aisle continue to point their fingers at their opposition when it comes to this touchy subject.
One of the leading factors up for discussion in these negotiations was on the topic of taxes. As has become the norm in the Democratic party, leaders of the left continue to urge the raising of taxes to cover infrastructure expenses. Republicans continue to fight this move and continue their tradition of standing up against raising the American citizen’s already steep tax bill.
The Democratic argument on this front is that Republican leaders are working hard to protect the financial well-being of their backers and special interest groups, often citing the benefit of lower taxes on America’s elite (or the 1% as they like to refer to them as.) It’s worth noting, however, that the wealthiest individuals in the country at this moment in time (Elon Musk, Warren Buffett, Tim Cook, Jeff Bezos, etc.) are all members of the Democratic party. Therefore, the 1% Democrats continue to refer to are in fact some of their biggest supporters. Proving yet again that Republican leaders have very little to gain from protecting this small group of individuals. Republicans respond to these criticisms by saying that they are simply tired of the government’s continued gouging of the American citizen and don’t believe raising taxes and tightening the government’s grip on its followers is the most productive path for America to go down.
Whether or not Democrats can successfully push the bill through on their own remains to be seen and ultimately depends on whether or not a few of the Democratic holdouts (Senator Joe Manchin of West Virginia and Senator Kyrsten Sinema of Arizona) will have the strength to continue to promote the importance of — and their belief in — a bipartisan decision.
(We’ll continue to watch for developments in this story…)
Learn More Here…
Obviously, any decision made will have a substantial impact on the markets and, therefore, your investments. That’s why we encourage you to stay on top of stories like this and keep your market knowledge as fresh as possible by continuing to join Tom Busby and the many other DTI representatives during their many market update videos.
To learn more about today’s markets, we invite you to join the latest edition of Wednesday on the Web below with this week’s special host, market expert Geoffrey Smith!
P.S. – We here at DTI value our customers. We know you take your investments seriously (and so do we!) We also know that your time is just as valuable –if not more valuable — than your money. That’s why we’ve recently come up with an investment strategy that could allow you to make more money in less time!
We’re calling this program your “Long Weekend Retirement Plan” and we want you to have every opportunity to take advantage of it…
CLICK HERE NOW to learn how — with the help of one simple investment strategy — you could create more free time for yourself while making your money work for YOU!