Biden Willing To Lower Infrastructure Plan To $1 Trillion, Offering Possible Tax Concession: Reports

Biden Willing To Lower Infrastructure Plan To $1 Trillion, Offering Possible Tax Concession: Reports


President Joe Biden reportedly expressed willingness to lower the cost of his infrastructure plan in a meeting with a top Republican Wednesday, although both parties remain far apart regarding the total scope of the spending and on other important infrastructure-related concerns.

According to The Washington Post, Biden told Senator Shelley Moore Capito (R-WV), the lead Republican negotiator in infrastructure talks, that he wants at least $1 trillion in new spending for a deal. Biden’s previous plan called for $1.7 trillion in new spending, over the next eight years, which he said would be paid for with corporate taxes within 15 years.

The president also suggested in the Wednesday meeting that he would be willing to exclude an increase in the corporate tax rate, which the 2017 Tax Cuts dropped to 21% but which he has been wanting to increase to 28%, reports The New York Times. The offer would come after Senate Minority Leader Mitch McConnell (R-KY) said last month that

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