What happened: President Joe Biden hosted multiple meetings with key lawmakers in the infrastructure debate, including the top four congressional leaders in the House and Senate, and Senate GOP committees of jurisdiction. The lawmakers said they are encouraged by the conversation and committed to finding a bipartisan path forward. However, negotiations on the scope and revenue mechanisms of a final infrastructure package are still evolving. Republicans are opposed to increasing the corporate tax rate to pay for infrastructure, one of President Biden’s proposed revenue sources. Biden signaled an openness to compromising on the revenue discussion, but also reiterated his pledge to not raise taxes on anyone making less than $400,000 a year.
Why it matters: Surface transportation programs are likely to fare well if a bipartisan agreement can be reached, since roads and bridge investments are a core area of agreement between Republicans and Democrats.
What’s next: Biden asked Senate Republicans to prepare a more detailed version of their $568 billion infrastructure proposal, including pay-for specifics. Both sides have set Memorial Day as a tentative deadline to determine whether there can be a bipartisan path forward. House and Senate committees are also expected to advance surface transportation reauthorization legislation before May 31.
