Biden reportedly lowers GOP infrastructure offer to $1 trillion in new spending

President Biden and Sen. Shelley Moore Capito
(Image credit: T.J. Kirkpatrick/Pool/Getty Images)

After President Biden hosted Republican infrastructure negotiator Sen. Shelley Moore Capito (R-W.Va.) on Wednesday afternoon, the White House called the Oval Office meeting "constructive and frank" while Capito's office said she was "encouraged that negotiations have continued." But despite these "bland statements," Politico reports Thursday morning, Biden made a new offer and "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."

Capito briefed her fellow GOP negotiators Wednesday night, and three people familiar with the talks told Politico that Biden's new offer is $1 trillion in new spending, down from $1.7 trillion and his initial $2.3 trillion plan. Biden also is reportedly insisting that the spending be partially paid for by raising the corporate tax rate. The Republicans, who raised their initial $568 billion counteroffer to $928 billion, with only $257 billion in new spending, "weren't happy, to say the least," Politico says, and Capito and her group haven't decided what their next move will be.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
Peter Weber, The Week US

Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.