"Biden and Senators Close In on Bipartisan Infrastructure Deal"

"Lawmakers were set to take a tentative framework to the White House on Thursday. Administration officials signaled the president was prepared to support it, pending final details."

"WASHINGTON — White House negotiators and a group of senators reached a tentative agreement Wednesday evening on the contours of what would be a bipartisan infrastructure agreement, with lawmakers set to brief President Biden on Thursday as details were filled in.

The framework is expected to increase federal spending by nearly $600 billion to invest in roads, broadband internet, electric utilities and other federal infrastructure projects. It is expected to be paid for with a suite of revenue increases that do not violate either Mr. Biden’s pledge not to raise taxes on the middle class or Republicans’ red line of not reversing business tax cuts passed under President Donald J. Trump in 2017, though the details of the revenue sources have not yet been finalized.

Those revenue increases, which have been a major sticking point in negotiations, are expected to include heightened enforcement efforts by the Internal Revenue Service to reduce tax evasion by corporations and high earners, which many economists say could yield a significant increase in tax collections over time. They most likely will not include any increases in the tax rates corporations pay, as Mr. Biden had proposed, or so-called user fees, as Republicans had proposed."

Jim Tankersley and Emily Cochrane report for the New York Times June 23, 2021.


"White House Digs In As Infrastructure Talks Stall" (The Hill)

"Bipartisan Group Of Senators To Brief Biden On Infrastructure ‘Framework’ After Potential Breakthrough In Talks" (Washington Post)

Source: NYTimes, 06/24/2021