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Senate Republican Announces $ 928 Billion Infrastructure Offer

Washington — Senate Republicans offer the White House a $ 928 billion infrastructure plan to close the gap with the White House Latest $ 1.7 Trillion Offer Both sides are trying to break the deadlock on the scope of infrastructure packages and their payment methods.

The $ 928 billion plan Republican First Five Years $ 568 Billion ProposalHas funded roads, bridges, railroads and transportation systems for eight years. Republican negotiators said they would try to pay the offer by redirecting federal Covid-19 aid, which Democrats at Capitol Hill believe they would oppose.

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President Biden has set an anniversary goal to advance the bipartisan talks that lasted for months. Republicans panned the White House’s $ 1.7 trillion offer last week. Original $ 2.3 trillion planThe White House claimed that the proposal was not sufficiently narrowed down.

According to Republicans, about $ 257 billion in GOP offers are above baseline levels, and federal spending is projected if the current program continues. The White House said Congress needs to set new baseline spending by the end of this fiscal year, but the overall $ 1.7 trillion plan is above current baseline levels.

The White House offer includes funding for a clause that Republicans argue that it should not be considered infrastructure. This includes $ 400 billion to care for the elderly and Americans with disabilities. In a memo to Republicans sent last week, the White House argued that money should remain in the package, along with other funds criticized by Republicans.

“I think that’s a big problem, it’s a range,” said Senator Shelley Moore Capito, West Virginia, who is the Republican’s chief negotiator.

Another major issue approaching negotiations is how to finance the package. The single-page Republican plan doesn’t include a specific way to cover the cost of the package, but negotiators say the aid council approved for coronavirus bailouts is directed to infrastructure. Said there is a possibility. Existing transportation revenues, including federal gas taxes, will also cover some of the costs.

Senator Roybrandt, Missouri, one of the negotiators, said: .. Brant cited collecting charges from electric vehicles as one possibility, but said the White House opposes raising user charges.

Mr. Biden proposed to pay the plan by raising taxes on companies, including raising the corporate tax rate from 21% to 28% and raising taxes on foreign income of US companies. Republicans have stated that they do not support any form of tax increase.

If negotiations fail, Democrats may try to push infrastructure bills without Republican support.

To circumvent the 60-vote threshold required for most Senate legislation, Democrats must use a budgeting operation called a settlement to approve the bill. Democratic Senate aide, Advance the package through adjustmentsAccording to people who are familiar with conversation.

Both Republicans and Democrats support spending on US infrastructure, but the bill agreement is still a long way off. The WSJ’s Gerald F. Save explains why there is growing skepticism on both sides as to whether the two can work together on this topic. Photo Illustration: Ang Li

Biden’s infrastructure plan

Write to Andrew Duehren at andrew.duehren@wsj.com

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Senate Republican Announces $ 928 Billion Infrastructure Offer

Source link Senate Republican Announces $ 928 Billion Infrastructure Offer

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