On Friday, Senate GOP leaders reject U.S. President Joe Biden’s new infrastructure proposal and expected to announce a new offer as discussions grind toward upcoming next week’s deadline for development on a bipartisan agreement. Whereas Biden made a case for his strong investment package to push the economy past the coronavirus pandemic crisis and recession and into a new era.
The president told the reporters that it is the perfect time to develop the progress that they made. The country needs to make those investments at the moment to succeed tomorrow. Pete Buttigieg, the Transportation Secretary, indicated that the American president would look to act without the support from the GOP leaders if there is no deal when Congress returns from its Memorial Day break and the Democratic party is setting the foundation for a go-it-alone approach.
Reporters asked about the 7th June timeline, Jen Psaki, the White House Press Secretary, said that it is not a tough deadline. Whereas Biden and the Republican senators narrowed the price gap between his early $2.3 trillion proposals and the Republican $568 billion initial bid, they remain far apart on how to pay for what might be a conciliation one trillion dollars investment.
Republicans Showing no Interest in Biden’s New Proposal
Republican leaders are showing no interest in the latest proposal of president Biden for a fifteen percent corporate minimum tax rate that would ensure all firms pay something in taxes, instead of allowing several write-offs or deductions that they contribute zero to the treasury of the country. Moreover, a Republican leader familiar with the discussions said the Republican senators view the latest idea of Biden as a needless tax hike.
Republican leaders led by Senator Shelley Moore Capito of West Virginia poised to submit a reviewed offer when she converses with the president again Friday; the source said they would demand using available coronavirus relief funds to pay for the infrastructure investments. On the other side, the team of Biden rejected the Republican approach.