Infrastructure talks fail
President Joe Biden on Tuesday ended discussions with a group of Republican senators on a compromise infrastructure bill. The two sides could not agree on what to include in the bill and how to pay for it.
What were the disagreements? Republican senators offered a $928 billion proposal. Biden wanted to see a $1.7 trillion bill. The president’s plan to pay for the new spending by raising the corporate tax rate from 21 percent to 28 percent was a no-go for Republicans. And the White House rejected the GOP suggestion to use unspent COVID-19 funds to cover the cost. Biden is now talking with Democratic congressional leaders about using the budget reconciliation process to move at least some of the package forward without bipartisan agreement.
Dig deeper: Read Harvest Prude’s report in The Sift about Biden’s massive infrastructure proposal.
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