President Joe Biden's infrastructure plan is long overdue and doing nothing "is not an option," according to former Democratic National Committee Chairman Ed Rendell.
"Doing nothing about our infrastructure for the 4 years that Joe Biden will be president is not an option," Rendell, the former governor of Pennsylvania, told Sunday's "The Cats Roundtable" on WABC 770 AM-N.Y.
"The American infrastructure will crumble."
Rendell admitted "no one likes to pay more taxes," but if there can be a compromise on corporate taxes, which President Donald Trump took down even further than most Republicans had originally requested in his tax reform package.
The bipartisan agreement hinges on reducing the size of the infrastructure spending and the corporate tax rate, Rendell told host John Catsimatidis.
"If the Republicans would agree to raising the corporate tax not to 28%, but to 25 or 26%, I think we can do this in a bipartisan fashion," Rendell concluded.
"Remember, but when the corporate community came to Donald Trump and said they needed to reduce taxes, all they wanted was to reduce [the corporate rate] to 28%. President Trump took it down to 21%. I think there’s appropriate grounds for a compromise."
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