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  • A bipartisan group of 10 US senators said Thursday they have reached a tentative agreement on a "realistic" infrastructure plan, days after talks between President Joe Biden and Republican lawmakers collapsed. The agreement, considerably less ambitious than Biden's original $2.3 trillion American Jobs Plan, would be "fully paid for and not include tax increases," the five Democrats and five Republicans said in a brief statement. "Our group... has worked in good faith and reached a bipartisan agreement on a realistic, compromise framework to modernize our nation's infrastructure and energy technologies," they said. A deal is far from certain. Details of the plan were omitted from the statement, suggesting there are questions about whether its current form will pass muster with both parties and the White House. US media citing sources familiar with the package reported that it amounts to $1.2 trillion over eight years, with some $579 billion of it being new spending -- and none of it raised through new corporate or income taxes. The conundrum of how to pay for upgrades to roads, bridges, ports, pipes and internet connections, coming on the heels of huge spending to revive the Covid-ravaged economy, was a key sticking point in recent negotiations between Biden and Republicans led by Senator Shelley Moore Capito. Biden had sought a raise in the corporate tax rate from 21 percent to 28 percent as a way to help pay for the infrastructure spending, then later signaled he would be open to revisions. Republicans have said they remain opposed to any change in tax rates. The new group, which includes Republican senators Mitt Romney and Rob Portman and Democratic senators Joe Manchin and Kyrsten Sinema, said they were discussing their approach with the White House and congressional colleagues. They remain "optimistic that this can lay the groundwork to garner broad support from both parties and meet America's infrastructure needs," the group added. Republicans have balked at provisions in Biden's proposal including modernizing public schools, improving care services under Medicaid and increasing climate change resiliency through projects like retrofitting homes. Proposals to pay for the latest package reportedly include indexing the gas tax to inflation, and using unused Covid-19 relief funds. The gas tax plan risks running afoul of Biden, who has stressed he does not want to raise taxes on people earning less than $400,000 a year. mlm/mdl
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  • US senators say they reached deal on infrastructure
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