Negotiations on a new U.S. infrastructure funding bill continue.
A group of Senate Republicans released their second counteroffer to President Biden’s infrastructure plans last week, outlining $928 billion in spending for roads, broadband, and other infrastructure.
The latest offering from Republicans would increase spending for roads and bridges by $91 billion over baseline, water infrastructure by $48 billion over baseline, and passenger and freight rail by $22 billion over baseline.
It would also include one-time increases of $65 billion for broadband infrastructure, $25 billion for airports, and $6 billion for water storage in the West. The road infrastructure funding would include $4 billion for developing electric vehicle infrastructure.
Republicans did not budge on elements of Biden’s infrastructure bill that would provide funding for services like public housing, childcare, and community-based healthcare workers.
In a letter to the White House, the authors of the counteroffer said, “Policies unrelated to physical infrastructure do not fit in this package.”
President Biden looks to fund the infrastructure bill in part by raising the U.S. corporate tax rate to 28 percent. GOP proposals call for sourcing money from unused funds for expanded COVID-19 benefits.
Source: Industry Week