The clock is ticking on President Joe Biden's goal of getting congressional Republicans to back some, if not all, of his wide-ranging infrastructure proposal.
President Joe Biden is holding high-profile meetings this week with a bipartisan group of senators whose input could shape the outlines of any final bill.
After weeks of outreach by White House aides to lawmakers on Capitol Hill, the president is holding high-profile meetings this week with influential senators, both Republicans and Democrats, whose input could shape the outlines of any final bill. Instead, Democrats propose raising the corporate tax rate and closing loopholes that would effectively mean corporations and the very richest Americans pay for the plan.
"I'm cautiously optimistic about a compromise bill because it's a personal priority of the president's," said Republican strategist Michael Steel, a partner at Hamilton Place Strategies and a former top aide to then-House Speaker John Boehner, R-Ohio. Biden will then meet with six Republican senators, including Capito, to talk about a potential compromise on Thursday. Capito, a Republican from West Virginia, ledStill, there are doubts that Biden's enthusiasm for a deal can paper over the deep divisions between the two parties' priorities."The two sides are still extremely far apart, not only on the topline spending but also on the guts of the respective plans and what they're trying to achieve," DeGood told CNBC.
Republicans have seized on Biden's expansive definition of "infrastructure" to oppose much of his proposal. In April, Republican senators released the framework of a counteroffer infrastructure bill thatRepublicans also say that Biden's refusal to fund the plan by imposing user fees, or deficit spend, is unsustainable.
"I don't see tax hikes. At all. And Republicans are going to see closing any tax loopholes as a tax hike," he said.
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