9.47 h EDT09:47
Moments after the Senate Republicans concluded the press conference, one of his fellow Democrats criticized his latest infrastructure proposal.
“I don’t think it’s a serious counteroffer,” the senator said Elizabeth Warren he told MSNBC.
The Democratic senator added that the Republican proposal to redirect unused coronavirus relief funds to infrastructure would not win any fan in the White House.
Stephanie Ruhle informs
SEE: @SenWarren reacts to the Senate Republican infrastructure counter-proposal just released this hour. She says it’s not a serious counteroffer. @ MSNBC pic.twitter.com/Vi8beI06vp
May 27, 2021
Updated at 9.56 am EDT
9.34 h EDT09:34
Shelley Moore Understood argued that the Senate Republicans i Joe Biden they are actually closer to an infrastructure agreement than their line figures suggest.
The Republican senator said she believed they could reach an agreement if Biden withdrew funding from her plan for issues such as caring for the elderly and green energy, which would bring them very close to an agreed cost for the bill.
“I think the gaps are a lot less,” Capito told reporters.
However, Biden has consistently argued that the green energy sector and the care economy are key parts of the U.S. infrastructure and should be included in this bill.
9.26 h EDT09:26
Another thing to keep in mind: most recent Republican plans reflect initial spending on infrastructure items.
The reference number indicates how much the United States will spend on infrastructure if the current level of activity continues, adjusting for inflation.
The $ 928 billion figure actually includes only $ 257 billion in new infrastructure spending on that reference number.
That means spending an additional $ 32 billion or so on infrastructure in each of the next eight years, which you probably won’t like. Joe Biden and his team.
The GOP Senate makes a $ 928 billion infrastructure bid on Biden. ($ 257 billion in new spending from baseline over Biden’s latest $ 1.7 trillion counteroffer) pic.twitter.com/XiD1stn04z
May 27, 2021
Updated at 9.30 am EDT
9.16 h EDT09:16
It is also important to keep in mind that much of the spending is proposed by the Senate Republicans comes from unused coronavirus relief funds.
Joe Biden and his team have indicated that they are not at all happy with the idea of redirecting coronavirus relief money to infrastructure.
But Republicans have said they are firmly opposed to reversing Trump-era tax cuts to pay for the infrastructure plan, which is what Biden originally proposed.
9.11 h EDT09:11
Shelley Moore Understood said the Senate Republicans The latest $ 928 billion infrastructure offering “adheres to the basic elements of infrastructure.”
Republican negotiators have constantly clashed Joe Biden on how the infrastructure is defined in relation to the elements that will be included in this massive bill.
For example, the president and his team have proposed massive investments in the green energy sector, but Republicans have been much less inclined to include that funding in this bill.
9.07 h EDT09:07
Republicans present a nearly $ 1 trillion infrastructure plan
Senate Republicans they now formally present their counteroffer to Joe BidenThe infrastructure plan at a press conference on Capitol Hill.
The Republican negotiating team, led by the senator Shelley Moore Understood of West Virginia, calls to spend $ 928 billion over eight years to strengthen U.S. infrastructure systems.
This proposal includes an increase of $ 91 billion to improve roads and bridges and an additional $ 48 billion to invest in water infrastructure.
“Senate Republicans continue to negotiate in good faith,” Capito said. “We are trying to achieve this common goal of reaching a bipartisan infrastructure agreement.”
Still, the new Republican proposal is still far below the $ 1.7 trillion plan it had Joe BidenThe team mentioned in its counteroffer last week.
8.51 h EDT08:51
Republicans will propose a $ 1 billion counter-offer to the Biden infrastructure plan
Greetings from Washington, live blog readers.
Senate Republicans will soon hold a press conference at Capitol Hill to present its latest counteroffer Joe Bideninfrastructure plan.
The new Republican plan is expected to cost about $ 1 billion, which is almost double the cost of its initial infrastructure proposal.
Joe Biden gestures to Senator Shelley Moore Capito during an infrastructure meeting at the Oval Office. Photography: Kevin Lamarque / Reuters
However, $ 1 billion would still be much lower than what the president has asked to spend. Biden originally outlined a $ 2.25 million plan, but offered a $ 1.7 million proposal last week.
Biden reportedly pointed out to Senate Republicans at a meeting last week that he would feel comfortable with $ 1 billion as the limit number for an infrastructure bill.
However, at this price, many items will likely fall outside the final legislation, which could be frustrating Democrats, some of whom are pushing to pass the bill through reconciliation and thus avoid Senate Republicans.
If Biden rejects the latest Republican offer, reconciliation may be the only way to pass an infrastructure bill.
The Republican press conference will begin in about 20 minutes, so stay tuned.
Updated at 8.56 am EDT