InfrastructureNew This Week

Republicans Unveil $928B Counterproposal

Senate Republicans have unveiled their updated $928 billion counteroffer to President Biden’s infrastructure plan. This new proposal is a significant increase from the $568 billion plan proposed by some GOP members last month.

This new plan comes just days after President Biden’s team announced a reduced plan that lowered the requested amount for his American jobs Plan $550 billion to $1.7 trillion.

For weeks, President Biden has been working towards trying to gain bipartisanship for a new infrastructure plan after getting a cold reception from Senate Republicans when his $2.3 trillion American Jobs Plan was first announced.

According to an article by Jacob Pramuk for CNBC, the new Republican proposal includes: “$506 billion for roads, bridges and major infrastructure projects, including $4 billion for electric vehicles, $98 billion for public transit, $72 billion for water systems ,$65 billion for broadband, $56 billion for airports, $46 billion for passenger and freight rail systems, $22 billion for ports and waterways, $22 billion for water storage, $21 billion for safety efforts, and $20 billion for infrastructure financing.”

According to that same CNBC article, this counterproposal falls just short of the $1 trillion minimum President Biden urged for from the GOP.

While Democrats and Republicans seek to make significant progress on an infrastructure plan before Memorial Day, the possibility for bipartisanship and further talks is still open; however, there will need to be significant compromise between the parties on the terms, figures and funding methods.

Read More