Republicans counter Biden’s infrastructure offer of $928 billion

A new infrastructure development program entailing $928 billion has been offered by a group of six Republicans led by Senator Shelley Moore Capito on Thursday. The project aims at furthering and revitalizing the nation’s roads, bridges, and broadband systems and is countering a  $1.7 trillion White House proposal.

This Democratic proposal was introduced a week ago and had pared down its infrastructure bill to $1.7 trillion from $2.25 trillion, with cuts to investments in broadband and roads and bridges, but Republicans dismissed the changes as insufficient for a deal as a result, since roughly $500 billion were slashed from Biden’s original budget it was decided to reach a bipartisan agreement.

The Republican proposal includes $506 billion for roads,$98 billion allocated to public transit and including a fee on electric vehicles, and nearly $350 billion in “public-private” investments identified by business leaders.

Republicans want the funds to be strictly allocated towards the development of roads, bridges, airports, waterways and broadband access and had subsequently declined group White House’s $1.7 trillion offer, due to social spending provisions and tax hikes on U.S. corporations- they have even said they don’t include asking Americans earning less than $400,000 to pick up the bill. It is still not clear how the group plans on funding the proposal.

A Biden administration official said on Thursday the White House was considering the offer seriously.