Bipartisan group agrees on infrastructure deal

Bipartisan group agrees on infrastructure deal

A bipartisan group of 10 U.S. senators said on Thursday it had reached agreement on a framework for a proposed infrastructure spending bill that would not include any tax increases.

Bryan Wood reports.

A bipartisan group of U.S. senators reached an agreement on Thursday for a proposed infrastructure spending bill.

The group of five Republicans and five Democrats gave no details, but a source familiar with the deal told Reuters the group will suggest spending of over $1 trillion dollars over eight years.

The group did put out a statement saying “[We] reached a bipartisan agreement on a realistic, compromise framework to modernize our nation's infrastructure and energy technologies.

This investment would be fully paid for and not include tax increases." A congressional source told Reuters the agreement proposes using unspent relief funds, but it also opts for indexing federal gas taxes to inflation, which the White House disagrees with.

Democratic U.S. President Joe Biden has pushed for a nearly $2 trillion package in Congress to revamp roads and bridges and tackle issues like education and healthcare.

Republicans have opposed his plan, which includes raising taxes on corporations and the wealthy.

They’ve also said it focuses too much on climate change and social programs. Senate Republican Leader Mitch McConnell said he was open to bipartisan ideas.

Democratic Senate Majority Leader Chuck Schumer said the same though he added earlier on Thursday he might push an option that only has his party's support.

Most bills require 60 votes to pass through the 100-seat Senate, but Democrats could bypass the rule through a maneuver called reconciliation.

The Senate is split 50-50 between the two parties, while Vice President Kamala Harris holds the tie-breaking vote.