Senators Eye $579B in New Infrastructure Spending, $1T Plan

Senators Eye $579B in New Infrastructure Spending, $1T Plan

A bipartisan group of senators is eyeing an infrastructure deal with $579 billion in new spending as part of a $1 trillion package. It could be rolled out as soon as Thursday as negotiators try to strike a deal on President Joe Biden’s top priority, according to those briefed on the plan.

The 10 senators have been huddling behind closed doors, encouraged by Biden to keep working on the effort after he walked away from a Republican-only proposal this week unable to resolve differences. The senators are briefing their colleagues privately and cautioned changes could still be made.

“We got a piece of paper with every line and a total,” Sen. Mitt Romney, R-Utah, told reporters at the Capitol. He declined to provide further details. “Can be adjusted and changed? Sure.”

The president and Congress have been straining to reach an agreement on his ideas for an infrastructure investment, stuck over the scope of the package of road, highway and other projects and how to pay for it.

At that size, the new package spread over five years would be more than the previous Republican-only effort of $330 billion in new spending in a $928 billion package, but still short of the $1.7 trillion over eight years Biden is seeking. It appears the group is running into the same problems that Biden and lead Republican negotiator Sen. Shelley Moore Capito confronted in agreeing on how to pay for it.

Sen. Bill Cassidy, R-La., a lead negotiator, would not disclose the final tab. Asked if the new spending was at $600 billion, he said “the president said that was his goal. So I don’t think anybody felt like they had to exceed his goal.”

Another member of the group, Sen. Jon Tester, D-Mont., said they are “fairly close” on a topline amount, but are still debating how to pay for it. One option is to include potential revenue from uncollected income taxes, he said.

“We still have to talk,” Tester said.

One Republican not in the group, Sen. Mike Braun of Indiana, said he was told the package would provide nearly $1 trillion — including $579 billion in new spending over the baseline for transportation projects.

Braun also said parts of it would be paid for with untapped COVID-19 relief funds, which has been a nonstarter for the White House.

“They have come up with similar to what I think Capito was working on, but my understanding is it would be a little more money,” he said.

Biden tasked the senators to keep working as he set out for his first overseas trip after talks collapsed this week with Capito and the GOP senators.

The president is seeking a sweeping investment in not just roads, highways and bridges but also broadband, electric vehicle charging stations and other aspects of what he views as the new economy, all paid for with a hike in the corporate tax rate from 21% to 28%.

Republicans prefer a more narrow focus on fixing existing transportation systems, with more modest investments elsewhere. They oppose any tax hikes to pay for the new spending.

With the Senate narrowly split, 50-50, and most legislation requiring 60 votes to advance past a filibuster, Biden is seeking a bipartisan agreement to ensure passage. At the same time, he is also instructing Democrats who control the House and Senate to prepare to pass portions of the package on their own, under special budget rules that enable approval with 51 votes in the Senate.

In the evenly-divided Senate, Vice President Kamala Harris serves as a tie-breaking vote.


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Originally Posted on: https://www.newsmax.com/politics/Congress-Infrastructure/2021/06/10/id/1024684
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