Republican senators will unveil infrastructure counteroffer
Senators Shelley Moore Capito, Roger Wicker, Pat Toomey and John Barrasso will hold a press conference on Thursday.
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Senators Shelley Moore Capito, Roger Wicker, Pat Toomey and John Barrasso will hold a press conference on Thursday.
Several moderate Senate Republicans are discussing a potential counteroffer to President Biden's infrastructure plan.
President Biden is poised to meet with a bipartisan group of lawmakers Monday to discuss his infrastructure plan.
The president touted the $2 trillion American Jobs Plan and defended raising the corporate tax rate to pay for it.
President Joe Biden on Wednesday promoted the American Jobs Plan, his $2 trillion infrastructure package, arguing that the definition of infrastructure is "evolving" and defending his proposal to raise the corporate tax rate to pay for it. Watch his remarks and CBS News senior White House correspondent Ed O'Keefe's analysis.
Bezos said "concessions" will be needed to support President Joe Biden's "bold investments in American infrastructure."
The determination could be key for Democrats with a 50-50 Senate.
The Democratic senators want to roll back three provisions of President Donald Trump's tax reforms.
President Biden is defending a plan to raise the top corporate tax rate from 21% to 28% to fund his $2 trillion "American Jobs Plan," noting the rate was much higher for decades until President Trump cut it in 2017. CBS News senior White House and political correspondent Ed O'Keefe, Washington Post national political reporter Jacqueline Alemany, and Axios justice and race reporter Russell Contreras join CBSN's "Red & Blue" host Elaine Quijano to discuss what comes next.
Cecilia Rouse, the chair of the Council of Economic Advisers, says the American Jobs Plan "meets the needs of a 21st century economy."
"Asking corporate America just to pay their fair share will not slow the economy at all," the president said.
President Biden announced that five cabinet secretaries would represent him in efforts to get the plan through Congress.
President Biden held his first full Cabinet meeting Thursday to work on promoting his $2 trillion "American Jobs Plan." CBSN Washington reporter Caitlin Huey-Burns, Politico White House reporter Meridith McGraw, and Vice News contributor Paul Blest join CBSN's "Red & Blue" host Elaine Quijano to discuss the infrastructure plan, as well as the White House's opposition to Republican efforts to impose new voting restrictions.
The White House memo cites polling showing that parts of the massive plan are broadly popular with Americans.
President Biden unveiled an ambitious $2 trillion infrastructure plan. Part of the legislation is aimed at fixing the nation's roads and bridges and creating more affordable housing. The White House says the plan would create millions of jobs, but lawmakers are clashing over how to pay for the proposal. The Biden administration wants to pay for it through an increase in the corporate tax rate, which has already led to opposition from some Republicans. CBS News chief White House reporter Nancy Cordes reports from Pittsburgh, then joins CBSN's Lana Zak with more.