A growing group of lawmakers and the White House haggled over how to finance a roughly $1 trillion infrastructure proposal, awaiting feedback from President Biden, while Democrats began discussions on a separate package that could cost up to $6 trillion
A growing group of lawmakers and the White House haggled over how to finance a roughly $1 trillion infrastructure proposal, awaiting feedback from President Biden. Meanwhile, Democrats began discussions on a separate package that could cost up to $6 trillion.
June 17, 2021 4:23 pm ETWASHINGTON—A growing bipartisan group of lawmakers and the White House haggled over how to finance a roughly $1 trillion infrastructure proposal, awaiting feedback from President Biden as Democrats began discussions on a separate economic package that could cost up to $6 trillion.
Since negotiations between Mr. Biden and a group of Senate Republicanscollapsed last week, an alternative set of Republican and Democratic senators have held talks on a infrastructure plan that would spend $973 billion over five years, with $579 billion of that funding above expected baseline levels. Initially a group of five Democrats and five Republicans, the group expanded to include 11 Republicans and 10 members of the Democratic caucus on Wednesday.
According to a draft outline of the proposal, the plan would dedicate $110 billion in new spending to bridges and roads, $65 billion to expanding access to broadband, and $48.5 billion to public transit, among other priorities. Extended over an eight-year timeline, the plan would spend a total of $1.2 trillion. headtopics.com
The draft, first obtained by Politico, also includes a number of ways to finance the package, a central issue in the talks. It proposes indexing the gas tax to inflation,increasing IRS enforcementto collect unpaid taxes, collecting an annual fee from electric vehicles, and repurposing existing federal funds. An infrastructure financing authority, public-private partnerships, and direct-pay municipal bonds are also included as possible financing mechanisms.Read more: The Wall Street Journal »
Australia defends scrapping of French submarine deal, Macron and Biden to talk
Australia on Sunday defended its decision to ditch a multi-billion-dollar order for French submarines and opt instead for an alternative deal with the United States and Britain, saying it had flagged its concerns to Paris months ago.
First it was 4 trillion, and now it is 1 trillion plus 6 trillion? How many zeros in a trillion again? This is crazy. So long it is God's will, God will provide everything you need. eg. christian evangelical missionary funding You 🐏 it through!! Lol no it doesn't GOP unwillingly to raise taxes on those making $400,000 or more but they are OK on raising taxes on middle class and the poor to pay for it. So who are they working for? The rich elites of course.
Enough trash talk, how much of the 1 trillion goes towards roads/bridges etc. transit etc horrible All they want to do is spend. Can’t get it out of the wallet fast enough
Group of 20 bipartisan senators back $1.2T infrastructure frameworkA group of 10 Democratic and 10 Republican senators (the 'G20') tasked with negotiating an infrastructure deal with the White House has released a statement in support of a $1.2 trillion framework.Why it matters: Details regarding the plan have not yet been released, but getting 10 Republicans on board means the bill could get the necessary 60 votes to pass.Get market news worthy of your time with Axios Markets. Subscribe for free.Last week, we called this 'the best infrastructure deal Biden's g That’s great if the 10 Republican Senators actually intend on voting for the finished product instead of just dragging out the negotiation process to vote no in a unified block at the end. Hate to be pessimistic, but we’ve seen this movie before.
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