On Friday, the Biden administration shared their offer of the bipartisan infrastructure agreement with the Senate Republicans. However, this offer sliced more than $500 billion off the initial proposal given by the president. Notably, the White House thought this step would jump to start the talks. Although, this entire deal got denied by the Republicans swiftly.
Significantly, this deal proposal of Mr. Biden, which margins about $1.7 trillion, cuts $500 billion from his initial plan. But it does little to resolve difficult questions of how to offset the spending. The President has continuously mentioned that he needs to grow his infrastructure plans with the support of the bipartisan. Although, the key centrist Democrats in the Senate have also demanded the same. But the president has insisted that Republicans spend far more than they have indicated they are willing to.
Notably, the latest offer of Mr. Biden is for $1.7 trillion in expenditure, a drop of more than $500 billion from his initial proposal. Thus, this involves building or repairing roads, bridges, water pipes, broadband internet. In addition, the power grid, and a national network of electric vehicle charging stations, along with investing in-home care for older and disabled Americans have been included.
Republicans have riposted with the $568 billion plan, though many Democrats consider that offer even smaller. This is all due to the involvement of the extensions of some federal infrastructure spending at expected levels.