President Biden will court GOP senators next week at the White House in an effort to strike a deal on his spending bill, but Republicans stressed they don’t want tax increases on businesses or any liberal “wish list” items as part of any compromise.
The White House proposed a $2.25 trillion phase one infrastructure and tax plan plus an additional $1.8 trillion spending plan on family infrastructure, such as free community college, universal preschool and a paid family and medical leave program.
GOP BLAMES BIDEN FOR ‘HORRENDOUS’ APRIL JOBS REPORT
Biden on Thursday will meet with Sen. Shelley Moore Capito, R-W.Va., who is leading the GOP counteroffer of $568 billion in traditional infrastructure investments.
She’ll be joined by five of her GOP colleagues who serve on relevant committees: Sens. John Barrasso, R-Wyo.; Roy Blunt, R-Mo.; Mike Crapo, R-Idaho; Pat Toomey, R-Pa., and Roger Wicker, R-Miss.
“There is potential to come together with the Democrats on a deal if we leave out unrelated provisions like the Green New Deal and so-called climate justice,” Barrasso told Fox News Saturday. “Thursday’s meeting is an opportunity for President Biden to leave his liberal wish list behind and show he’s serious about working together on a bipartisan solution.”
WHAT’S IN BIDEN’S $2.25T INFRASTRUCTURE AND TAX PROPOSAL?
Biden proposes paying for the first package by raising $2 trillion in taxes over 15 years on corporations. The plan includes hiking the corporate tax rate to 28% from 21%, eliminating tax breaks for oil and gas companies and increasing the global minimum tax on U.S. corporations to 21% from 13%.
The federal government ran an annual deficit
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