The Wall Street Journal: Infrastructure negotiators agree to framework for nearly $1 trillion package

WASHINGTON — Members of a bipartisan group negotiating a roughly $1 trillion infrastructure proposal said they had agreed to a framework for a package, with plans to meet with President Joe Biden on Thursday to finalize the deal.

The Democrats and Republicans emerged from a meeting with top White House officials Wednesday saying that staff would continue to work on smaller unresolved issues. Recent talks have focused on how to finance the package, which drafts showed would spend $579 billion above expected federal levels for a total of $973 billion over five years.

Senate Majority Leader Chuck Schumer, D-N.Y., had been scheduled to meet late Wednesday with House Speaker Nancy Pelosi, D-Calif., and administration officials to discuss the bipartisan proposal, as well as the emerging contours of a separate and broader Democratic package of climate and social support programs, which together comprise the bulk of President Biden’s legislative agenda.

After meetings Tuesday, lawmakers in the bipartisan Senate group said they had largely agreed on how to spend the proposed $973 billion over five years, including $579 billion in spending above expected federal levels. The package is expected to include funding for improvements to roads, bridges, transit, airports and enhanced infrastructure for broadband, water and electric vehicles.

Earlier Wednesday, lawmakers said they remained divided over some measures to offset the cost and held another series of meetings to resolve the outstanding issues before the Senate adjourns later this week for a two-week July 4 recess.

An expanded version of this report appears on WSJ.com.

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June 24, 2021 at 12:00PM
Kristina Peterson,  Andrew Duehren
http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-74D1-96EE3D29F340%7D&siteid=rss&rss=1