(Bloomberg) -- President Joe Biden will meet Monday with a bipartisan group of lawmakers to discuss his $2.25 trillion infrastructure-and-jobs plan after Republicans voiced opposition and Democrats pitched their own additions and changes.
The White House gathering, featuring four senators and four representatives, kicks off at 1:45 p.m.
Biden’s plan spans traditional infrastructure like roads and bridges to investments in clean energy and funding for elderly care -- a program far broader than Republicans support. It also features corporate-tax hikes to pay for it, something that’s also opposed by the GOP.
House Speaker Nancy Pelosi has targeted passage in her chamber by July 4. The legislation is likely to be reshaped by lawmakers through the process, not least because of moderate Democratic Senator Joe Manchin’s call for a smaller corporate-tax hike.
Biden to Meet Bipartisan Group of Lawmakers at White House (10:15 a.m.)
Biden is scheduled to meet with eight lawmakers to discuss his infrastructure-and-jobs plan at the White House, starting at 1:45 p.m. The group includes four senators and four representatives, equally divided between Republicans and Democrats.
From the Senate side are Democrats Maria Cantwell of Washington and Alex Padilla of California, along with Republicans Deb Fischer of Nebraska and Roger Wicker of Mississippi. All but Padilla are members of the Senate Commerce Committee, which is chaired by Cantwell. Wicker is the ranking Republican on the panel. The Commerce Committee will play a key role in the manufacturing research and broadband Internet aspects of the legislation.
From the House side are Republicans Garret Graves of Louisiana and Don Young of Alaska and Democrats Donald Payne of New Jersey and David Price of North Carolina, who chairs the House Appropriations subcommittee for transportation.
Business Roundtable Starts Major Ad Campaign Opposing Tax Hikes (6:00 a.m.)
The Business Roundtable is starting a multimillion-dollar campaign aimed at stopping tax increases proposed as part of Biden’s $2.25 trillion infrastructure plan.
The group’s radio and digital advertisements, airing within the Washington D.C. market, will extol the benefits of the current tax regime and contend that the Biden administration shouldn’t attempt to raise corporate tax rates during an economic downturn.
According to a copy of the 30-second script obtained by Bloomberg News, the ad will say: “We’re not out of the woods on Covid-19, but we’re getting there. And as we emerge, we need an economy that grows and creates opportunity. That requires a reliable, consistent and competitive tax code for America’s businesses.” -- Nancy Cook
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