Your financial future could be in hock if the U.S. Senate and House pass both the infrastructure bill and the $3.5 trillion deal that includes new Medicare coverage, spending on education, child care and tax incentives to fight climate change, said Sen. Mike Braun (R-Ind.).
The two bills are linked. Braun said he could support the infrastructure deal that was reached for about $1 trillion, that includes roads, bridges and broadband improvements.
But, Braun told Fox Business Wednesday that linking both bills and forcing the $3.5 trillion deal through would violate his sense of good economics.
“Infrastructure, to me this is like paving the road to socialism, even though you’re trying to talk about hard infrastructure,” he said. “Eighteen trillion in debt when I got here two years ago, and it gets shrugges off like nothing when you’re adding another 3.5 trillion.”
Braun has advocated for less spending and less borrowing during his time in the Senate.
“I think after two and a half weeks through the break we’re no further along than we were before,” he said. “Pelosi has already said, Schumer about the same, if they don’t come together the whole deal is not gonna happen on their end.”
Republicans were able to negotiate for the $1 trillion infrastructure deal, but Pres. Biden agreed to it on the grounds that the bill with items that were originally part of what Republicans believes was too elaborate of an infrastructure bill, came in a separate package.