Senator pays attention to plans for $ 579 billion and $ 1 trillion in spending on new infrastructure – NBC4 Washington

Senator bipartisan group turns to infrastructure deal for $ 579 billion in new spending as negotiators seek to trade about $ 1 trillion in President Joe Biden’s top priority ing.

Ten senators are gathering in a closed room, and Biden was unable to resolve disagreements this week with a Republican-only proposal, but Biden encouraged the effort to continue. The senator is giving a private briefing to colleagues, warning that changes may still be made.

“Our group consists of 10 senators, 5 from each party, working in good faith and bipartisan on a viable and compromised framework for modernizing national infrastructure and energy technology. We have reached an agreement, “the Senator said in a joint statement.

“This investment is fully paid and does not include tax increases. We are discussing our approach with our colleagues and the White House, which lays the foundation for widespread support from both parties. We are optimistic that we can do it, “he added. And it meets the needs of American infrastructure. “

The president and Congress have struggled to reach an agreement on his ideas for infrastructure investment over the range of packages for roads, highways and other projects and how to pay for them. Parliamentarians say the group’s tentative agreement represents significant progress in developing a bill that could pass this evenly divided parliament this year. We also recognize that it can easily collapse.

At that scale, the spread of new packages over five years is greater than the previous Republican efforts of $ 330 billion for the $ 928 billion package, but still at the $ 1.7 trillion that Biden is seeking in eight years. Not reached. The group appears to be facing the same problems that Biden and Republican chief negotiator Shelley Moore Capito faced when agreeing on payment methods.

Republican chief negotiator Senator Bill Cassidy will not disclose the final tab. When asked if new spending would be $ 600 billion, he said, “The president said that was his goal. So I don’t think anyone felt that he had to go beyond his goals. “

Senator John Tester (D-Mont.), Another member of the group, said he was “quite close” to top-line amounts, but is still discussing how to pay them. One option is , To include potential income from uncollected income tax, he said.

“I still have to talk,” said the tester.

Senator Mike Brown of Indiana, one of the Republicans who are not part of the group, said the package will provide nearly $ 1 trillion, including $ 579 billion in new spending that exceeds the baseline of transportation projects. He said.

Brown also said some of it would be paid by the undeveloped COVID-19 Relief Fund, which was not a starter for the White House.

“They came up with a method similar to what I think Capito was working on, but my understanding is that it costs a little more,” he said.

Biden ordered the senator to continue moving towards his first trip abroad after talks between Capito and the Republican senator broke down this week.

The president is calling for drastic investment in roads, highways, bridges, as well as broadband, electric vehicle charging stations, and other aspects of what he considers a new economy, with corporate tax rates ranging from 21% to 28. We are paying the price by raising it to%. %.

Republicans prefer to focus on repairing existing transportation systems and refrain from investing elsewhere. They oppose any tax increases to cover new spending.

The Senate is split by a narrow margin of 50:50, and Biden is seeking a bipartisan agreement to ensure passage, as most bills that require 60 votes to pass filibuster are passed. At the same time, he also instructed the Senate and the Democratic Party of Japan, which controls the Senate, to prepare themselves to pass parts of the package under special budget rules approved by the Senate with 51 votes. Yes.

In the evenly divided Senate, Vice President Kamala Harris will vote for a tiebreaker.

Meanwhile, the House panel submitted a bill early Thursday, which will be an important component of the House’s infrastructure efforts. The bill will be federal spending on roads, bridges, transportation and railroads. The purpose is to increase. The $ 547 billion bill, passed almost in line with party policy with 38-26 votes, is likely to be considered in the House of Representatives later this month.

Senator pays attention to plans for $ 579 billion and $ 1 trillion in spending on new infrastructure – NBC4 Washington

Source link Senator pays attention to plans for $ 579 billion and $ 1 trillion in spending on new infrastructure – NBC4 Washington

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