Senate Republicans announced Thursday their revised counteroffer of a $928 billion infrastructure spending plan. President Biden had reduced his initial infrastructure proposal by $600 billion — down from $1.7 trillion — in his latest compromise to Republicans. The president said he wanted at least $1 trillion in an infrastructure plan over an eight-year period. Biden said Thursday that he plans to meet next week about the counteroffer with Sen. Shelley Moore Capito, R-W. Va., who’s leading the Senate GOP’s negotiating team.

Republicans said their plan will not require a tax increase, adding that they oppose Biden’s support for raising corporate taxes that is part of the White House proposal. The GOP plan proposes $506 billion for roads, $98 billion for public transit, $46 billion for passenger and freight rail and more than $72 billion for water infrastructure. The plan also calls for spending $65 billion for broadband, $56 billion for airports and $22 billion for ports and waterways.

At a press conference earlier Thursday, Senator Capito said the plan delivers on what Biden had asked for in earlier talks on a compromise proposal. She said the GOP proposal sticks to “core infrastructure” spending, a Republican priority to stick to traditional infrastructure such as roads and bridges. “Senate Republicans continue to negotiate in good faith,” Capito said at the press conference.

MSN