GOP to Propose $1 Trillion Infrastructure Counteroffer to Biden
Republican Senators have prepared a $1 trillion infrastructure bill as a counteroffer to President Biden after panning his revised $1.7 trillion infrastructure deal a few days back. GOP Senators say they plan on disclosing the details of the bill by Thursday. The GOP had previously proposed a much smaller $568 billion alternative plan.
Biden's original proposal was for a $2.3 trillion infrastructure bill which he reduced to a $1.7 trillion plan to try and reach a deal with Senate Republicans.
The new counteroffer is closer to Biden's revised bill and the GOP is taking a different approach and proposing to fund the bill with Covid-19 relief money. Previously, Republicans wanted consumers foot the cost of the bill through tolls, gas taxes and other fees whereas the Biden administration wanted to pay for the bill by raising corporate taxes, something the GOP is adamantly against.
Negotiations are ongoing but both sides seem more optimistic this week that they may be able to finalize the bill by Biden's proposed Memorial Day deadline.
Photo Source: congress.gov