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Senator is looking for another $ 570 billion for infrastructure

Ten senators have stated that the proposal has been paid and does not include tax increases.

Washington- Editor’s Note: The player video above is from May 2020.

A bipartisan group of senators Infrastructure trading According to the plan outline, negotiators are trading nearly $ 1 trillion on President Joe Biden’s top priorities, resulting in $ 579 billion in new spending.

Ten senators flocked in a closed room and were urged to continue their efforts after Biden was unable to resolve the difference this week away from the Republican-only proposal. The senator is personally briefing his colleagues and warns that changes may be made.

“Our group consists of 10 senators, five from each party, working in good faith and on a viable compromise framework for modernizing national infrastructure and energy technology. A bipartisan agreement has been reached, “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 gaining widespread support from both parties. I’m optimistic that I can meet the needs of American infrastructure. “

The White House said Democratic senators explained the new plan to the administration, but questions remained.

“The President appreciates the work of the Senator to create good jobs, prepare for the future of clean energy, and drive the significant investments needed to compete in the global economy,” said Deputy Press Secretary Andrew.・ Bates said. “In particular, we need to address questions about both policy and payment details.”

The president and Congress are tense to reach an agreement on his thoughts on infrastructure investment and are sticking to the range of packages for roads, highways and other projects and their payment methods. Parliamentarians say the group’s tentative agreement represents significant progress in developing a bill that can pass through such evenly divided parliaments this year, but it could be easily broken. I am also aware of that.

Costs will be $ 97.4 billion over the five-year standard of highway spending, or $ 1.2 trillion if split into eight as Biden suggests. In that size, the new package surpasses the previous Republican-only effort of $ 928 billion in new spending on the $ 928 billion package, which is $ 330 billion, but still reaches $ 1.7 trillion in the eight years Biden is seeking. not.

The group appears to be facing the same problems that Biden and Republican chief negotiator, Senator Shelley Moore Capito, faced when agreeing on their payment methods.

Lead negotiator, Senator Bill Cassidy (Republican), did not disclose the final tab. Asked if the new spending is $ 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 goal.”

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

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

Senator Mike Brown of Indiana, one of the Republicans who doesn’t belong to the group, said the package would offer nearly $ 1 trillion. This includes $ 579 billion in new spending, which exceeds the transportation project baseline.

Mr Brown also said some of it would be paid by the undeveloped COVID-19 Relief Fund, which was not the White House’s starting lineup.

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

Biden ordered the senator to continue working this week when he set out for his first trip abroad after the collapse of talks between Capito and the Republican senator.

The president is calling for drastic investment in roads, highways, bridges, as well as broadband, electric vehicle charging stations, and other aspects he considers a new economy, with corporate tax rates starting at 21%. I paid by raising it to 28. %.

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

The Senate is narrowly divided by 50:50, and in most laws that require 60 votes to pass filibuster, Biden seeks bipartisan consensus to ensure passage. At the same time, he is also instructing the House and the Democrats who manage the Senate to prepare to hand over part of the package themselves under special budget rules that allow 51 votes to be approved in the Senate. I will.

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

Meanwhile, the house panel submitted a bill early Thursday. It serves as an important component of the Chamber of Commerce’s infrastructure efforts. The bill aims to increase federal spending on roads, bridges, transportation and railroads. The $ 547 billion package will pass primarily in line with party policy in 38-26 votes and may be considered by Full House later this month.

Senator is looking for another $ 570 billion for infrastructure

Source link Senator is looking for another $ 570 billion for infrastructure

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