What Biden Told Republicans He Wants on Infrastructure

Playbook: “Per three people familiar, Biden wants $1 trillion in new spending and is sticking to his guns on corporate tax hikes being part of the pay-fors. (A fourth person familiar tells us that the new money Biden wants would be atop a baseline of $400 billion over five years, if you want to get uber technical. Point is: New money.)”

“Republicans weren’t happy, to say the least. Biden, they have said publicly, told them just a few weeks ago in an Oval Office meeting that baseline spending — i.e., money that would be spent under current policy — could be included in the total. In their latest $928 billion infrastructure proposal, they had put forward only $257 billion in new spending, while the White House’s last number was $1.7 trillion.”

“The GOP is considering another counteroffer that could come as soon as Friday, when Capito will be talking to Biden again, this time likely by phone. It’s unclear what that would look like — or even whether Republicans will make a new proposal.”