Hogan: Tax Hikes Not Needed To Pay For Federal Infrastructure Plan
Gov. Larry Hogan told CNBC’s Becky Quick during the channel’s Squawk Box program Monday that he is optimistic that Congress will pass a federal infrastructure plan, and that the plan won’t rely heavily on tax hikes.
Speaking as co-chair of the political group No Labels, Hogan said a compromise plan is on its way.
“All governors on both sides of the aisle really believe this is a top priority, and we're pleased we're finally making progress,” Hogan said.
He said the hardest part was cutting the original price tag of more than $2 trillion in half. The next step is paying for it.
“I think we can really do this without raising a lot of taxes. … There's going to be pushback from both sides about raising taxes,” Hogan told Quick. “Public-private partnerships is a big part of it, unspent monies on other things, and shifting around some priorities and where we're spending money now can get us pretty close.”
However, many congressional Democrats are pushing for a corporate tax rate increase, and possibly other tax increases on the wealthiest Americans.
“Obviously, this is going to be the big negotiating part of this package, is how we pay for all of this,” said U.S. Rep. Susie Lee, a Democrat from Nevada, who was also on the program.