Summary List Placement
Senate Republicans rolled out an $568 billion infrastructure plan on Thursday, kicking off Congressional negotiations on one of President Joe Biden’s biggest legislative priorities.
It was introduced by Sens. Shelley Moore Capito of West Virginia; Roger Wicker of Mississippi; Pat Toomey of Pennsylvania; John Barrasso of Wyoming; and Mike Crapo of Idaho. The amount is lower than the $600 billion range that Capito suggested last week.
“This is the serious, most robust plan we’ve put forward as Republicans,” Capitol said at a press conference on Thursday. “We see this as an offer that’s on the table.”
The plan allocates just over half of its cost to physical infrastructure such as roads and highways, breaking up spending over a five-year period. Here’s a breakdown of the GOP plan:
- $299 billion for roads and bridges. $65 billion for broadband. $61 billion for public transit systems. $44 billion for airports. $35 billion for drinking water and wastewater. $20 billion for rail. $17 billion for ports and waterways. $14 billion for water storage. $13 billion for road safety.
It outlined sources of revenue such as “user-fees,” charges meant to shift the burden of upgrading parts of the country away from large firms and onto the people using the services. Republicans also dismissed a corporate tax hike, reflecting their staunch opposition to rolling back former President Donald Trump’s signature tax law.
The path ahead for the Republican proposal is unclear, though a legislative breakthrough doesn’t appear likely in the short term. Democrats are likely to reject it as too meager.
The White House said this week it’s opposed to user-fees, viewing them as a violation of Biden’s campaign promise to not raise taxes for people earning below $400,000. Other key Senate Democrats such as Joe Manchin of West Virginia have also said they are opposed.
The Republican framework is only about a quarter of the $2.3 billion infrastructure and jobs plan Biden unveiled late last month. That expansive plan included funds for roads and bridges, clean-energy incentives, in-home elder care, broadband, and affordable housing, among other areas.
The Biden plan would be paid for with a corporate tax increase from 21% to 28%, a partial repeal of Trump’s tax law enacted in 2017. Another economic proposal directed at families is expected later this month, with tax hikes on wealthy people.
Republicans are lining up against the Biden public-works plan, particularly the corporate tax increase. The GOP has assailed it as a “slush-fund” and a “Trojan horse” for Democratic priorities.
Democrats argue they want to ramp up spending to alleviate economic inequality and speed up the country’s recovery from the pandemic.
This story will be updated.
NOW WATCH: Epidemiologists debunk 13 coronavirus myths