Republican senators to present counteroffer to Biden's infrastructure plan
CBSN
Washington — Republican senators will unveil their counteroffer to President Biden's infrastructure proposal on Thursday, which is expected to be significantly smaller than the president's $2 trillion plan and focus on transportation and broadband.
Senators Shelley Moore Capito, Roger Wicker, Pat Toomey and John Barrasso will hold a press conference to present their framework. Republicans have concerns about Mr. Biden's proposal, arguing that it contains too many provisions that are unrelated to traditional forms of infrastructure, such as funding for electric cars and home care for the elderly and disabled. Republicans are also balking at Mr. Biden's proposed method of paying for the package — a corporate tax rate increase from 21% to 28%, as well as a new global minimum tax for multinational corporations. Capito, a Republican from West Virginia, told reporters at the Capitol on Tuesday that the Republican plan will be focused on toplines but would not necessarily be detailed. However, it will include specific projects and methods of paying for them, such as user fees for transportation and with unspent coronavirus relief funds.
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