Secretary Granholm was asked about the infrastructure bill, focusing the bill on "what everyone can support," and about there being more money for electric vehicles than for roads and bridges. She justified the spending allocations, pointing to both energy security and tackling climate change as necessary parts of the bill.
And when Tapper asked if it was OK with her and with President Biden to "again have a bill pass with zero Republican votes," Granholm pointed out that over 80% of Americans favor infrastructure investment - Ds, Rs, and Is - and the president is inviting Rs to the table, telling them if they don't like something, come up with a better plan to make it happen. She also pointed out that Biden was sent to Washington to "do a job for America" and if we want infrastructure spending, jobs, and us to not lose the global race, then that's what he's going to do.
However, his sincere preference is -- his open hand is to Republicans to come to the table and say, if you don't like this, how would you pay for it? If you don't like this, what would you include? So much of this, though, includes priorities that Republicans have supported. So, I hope that Democrats and Republicans can be on a final vote yes on this bill, on this package.
And on the tax increases needed to pay for it? She pointed to a study showing that almost 20% of fortune 500 companies paid zero taxes after the Trump tax cuts, which points to the underlying unfairness of the tax code.
And so, what Joe Biden wants to do is to say, corporations should pay their fair share. In the same way that a plumber and a teacher would have to pay 22 percent of their income or 24 percent of their income, corporations should have to pay their fair share too, to invest in America.
Next up? TGFV, who was asked whether the Biden plan goes far enough in terms of tax increases and the Green New Deal. He said he thinks it's a "serious proposal" and that "every American" understands our infrastructure's falling apart; "the vast majority" of Americans understand that climate change is an existential threat; and "most Americans" know we have a housing crisis. And the bill addresses all of that.
But does it go far enough?
I think that, for example, as you indicated, in terms of climate, we're probably going to want to put more money into that area. I think there's a lot of work that has to be done in terms of health care, the high cost of prescription drugs, making our colleges affordable for young people, and dealing with student debt. So, right now, I think, at an unprecedented moment, the president has given us a serious proposal. A lot more work has to be done in that regard.
As TGFV says, "it depends on what you call infrastructure." He thinks we have "a crisis in human infrastructure" and mentioned child care, expanding Medicare benefits to include dental, vision and hearing services and he also pointed out that we're behind the rest of the world when it comes to this stuff. And when Tapper suggested adding more to the bill would make it even harder to get Republican support, he didn't seem to care. There may be some differences of opinion among the Dems, he said,
But I do believe, given the crises the country faces and the need to create millions of good-paying jobs, the need to expand health care, to guarantee health care to so many more people today who are uninsured or underinsured, the need to take on the pharmaceutical industry and lower the high cost of prescription drugs, I think you are going to see the Democratic Caucus coming together and pass very, very significant legislation.
We'll see.
Gov. Reeves didn't really add a lot to the conversation on the infrastructure bill. While he said his state would love a share of the money, he said the bill was more like a giant tax increase, or like the Green New Deal, than it was an infrastructure bill. And when he was specifically asked how to pay for it? "... by seeing significant improved economic growth," for one thing.
We saw that throughout the Trump administration, because the policies were pro-business, they were pro-growth, and revenues improved. Now, unfortunately, during those four years, like the four years before that, they did not in Washington get control of spending. They feel as if the debt doesn't matter. You're looking at a debt burden today of nearly $30 trillion for Americans. And what's ultimately going to happen -- and it's already happening -- as interest rates rise, the share of our annual budget that goes to pay for interest expense is going to rise from what is already an enormous level of 15 to 20 percent of all federal revenues goes to pay interest expense. That is not sustainable over the long term.
Tapper said that didn't answer how to pay for it; rather, it "actually provides examples of how it's even more complicated than that." And he's right.
Finally, Rep. Omar was asked about the Derek Chauvin trial and "what it's been like" watching the trial and reliving the trauma that so many folks are feeling. She said it's really hard, both wanting to avoid watching, and wanting to watch and hear from the witnesses. She said the feeling of helplessness they've all expressed resonated with her.
That is a feeling that we know really well here in Minneapolis when it comes to police abuse. And I remember feeling helpless 20 years ago when I witnessed police officers unload three dozen rounds on mentally ill Somali men in the middle of the street. And so, it's been -- it has just unearthed so much trauma for many of us, but we have each other, and we're going to get through it.
And what about a hung jury or not guilty verdict, is Minneapolis prepared for that?
So, the community is on edge about that. We have seen justice not delivered in our community for many years. And I think that there is a lot of confidence in Attorney General Keith Ellison and the prosecutors in this case. But we are all eagerly awaiting to see how this trial shakes out. It's been really horrendous to watch the defense put George Floyd on trial, instead of the police office -- the former police officer who's charged with his murder.
I have to agree with her on that.
See you around campus.
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