President Biden just endorsed a bipartisan infrastructure proposal worth roughly $953 billion after weeks of back-and-forth negotiations with Republicans.
Fox Business reports:
“We have a deal,” Biden said from the White House lawn. “We have made serious compromises on both ends.”
His announcement followed an Oval Office meeting with a bipartisan group of senators, who were pitching the breakthrough pared-down agreement reached the night before. Their proposed framework includes about $559 billion in new spending that will be invested in roads, broadband internet, electric utilities and other traditional infrastructure projects.
One of the biggest points of contention was how to pay for the measure; it’s still unclear how the initiative will be funded, but Sen. Mitt Romney said the group had agreed on pay-fors and would announce the plan later Thursday afternoon.
Twenty-one senators – 11 Republicans and 10 Democrats – have endorsed the framework, although it will likely need to win the support of Senate Majority Leader Chuck Schumer in order to meet the 60-vote threshold needed to pass legislation in the Democratic-controlled Senate.