Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Biden says too-small Republican infrastructure plan would be a non-starter

Published 04/30/2021, 12:11 AM
Updated 04/30/2021, 12:15 AM
© Reuters. U.S. President Biden attends drive-in car rally in Duluth, Georgia

© Reuters. U.S. President Biden attends drive-in car rally in Duluth, Georgia

By Andrea Shalal

DOBBINS AIR FORCE BASE, Ga. (Reuters) - President Joe Biden on Thursday said he planned to continue talks with Republican Senator Shelley Moore Capito about infrastructure and jobs, but would not accept a proposal that funded only a fraction of his $2.3 trillion package.

Biden told reporters during a visit to Georgia that he had a good call with Capito, the top Republican on the Senate Public Works Committee, who helped design a $568 billion, five-year Republican infrastructure package as a counteroffer.

He said he had offered to invite her to the White House in coming weeks with other lawmakers she wanted to include.

"She seemed positive about wanting to do something about it and serious about it," Biden said, although he said the two sides were still not in agreement on what exactly constituted infrastructure.

"Let's decide on ... what they are prepared to consider as far as what constitutes (infrastructure) ... and then we can figure out how to pay for it," Biden told reporters at Dobbins Air Force Base, after a rally in Duluth, Georgia.

Republicans reject Biden's plans to fund child care, home care and other components of what he calls "human infrastructure" as unnecessarily expanding government.

Biden said he said it would be a "no-go" if Republicans came in with a proposal that covered just a small part of his plans.

"If like last time they come in with one-fourth or one-fifth of what I'm asking and say that's our final offer ... then no, no go," he said.

Biden marked his 100th day in office on Thursday with a speech at a drive-in rally in Duluth, Georgia, urging Americans to support his plans to invest a combined $4 trillion to rebuild the U.S. economy to benefit the middle class.

He said the plans would add millions of well-paying jobs and trillions of dollars to economic output in coming years, while helping to reverse decades of systemic racism.

Republicans have also taken aim at tax increases on corporations that Biden has proposed to help fund his plans.

Capito and other Senate Republicans last week unveiled their much smaller proposal for infrastructure spending, which is narrowly focused on more traditional infrastructure projects and broadband access.

© Reuters. U.S. President Biden attends drive-in car rally in Duluth, Georgia

The Republican plan would not result in higher taxes but be fully paid for with user fees on electric vehicles and other items, unspent federal funds and possible contributions from state and local governments.

Latest comments

I personally think Biden has great ideas for lifting the economy but he should have the Fed foot the bill instead of proposing large tax hikes on U.S. Citizens!!! The Fed say it would do whatever it takes??? If congress denies the taxes maybe the Fed could apply another blank check??? You think??? The U.S. deficit is just a number, is it not???
is it that simple? injecting 2 thrillions every two months into any problem. Where the money came from???
what wrong in raising the taxes for the one percent, overall they'd still be the one percent,the rich use loopholes to hide money and don't pay their fair share,Inequality is growing by the day
LOL, wrhat does mr biden know about it. He’s been a ner for 40 years.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.