Infrastructure Deal in SightDemocrats are getting closer to finalizing an agreement on Biden's economic agenda that would allow for a bipartisan infrastructure bill to move forward. "We have 90% of the bill agreed to and written, we just have some of the last decisions to be made," House Speaker Nancy Pelosi said on CNN's State of the Union. The social spending measure previously stalled in the Senate due to objections from West Virginia's Joe Manchin and Arizona's Kyrsten Sinema, who cited concerns about hefty expenditures.
By the numbers: What had been a sweeping $3.5T plan is now being looked at as a $1.75T package, according to sources, but that figure may go higher.
Manchin appears to be on board with White House proposals for new taxes on billionaires and certain corporations. Earlier, the White House has floated a 15% minimum corporate tax rate that's designed to ensure all companies pay what President Biden calls their "fair share." If an agreement is reached by the week's end, a House vote on a separate $1T bipartisan infrastructure bill could happen before Sunday, when a series of transportation programs expire (Biden also heads to Glasgow at the end of the week).
Quote: "It is less than what was projected to begin with, but it's still bigger than anything we have ever done in terms of addressing the needs of America's working families," Pelosi continued. "I think we’re pretty much there now, it's just the language of it."