President Joe Biden-Capito infrastructure talks end
Published Date: 6/8/2021
Source: CNBC Television
W.V. Republican Senator Shelley Moore Capito and the White House have ended their infrastructure talks after the two sides could not come to an agreement on how to pay for the bill. CNBC's Ylan Mui reports. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi Negotiations between the White House and a small group of Republican senators over a bipartisan infrastructure bill collapsed Tuesday, weighed down by deep disagreements over what constitutes infrastructure and how much money should be allocated for it. Sen. Shelley Moore Capito, of West Virginia, the lead Republican negotiator, said President Joe Biden had spoken to her by phone Tuesday and ended the talks. “I spoke with the president this afternoon, and he ended our infrastructure negotiations,” Moore Capito said in a statement. “Throughout our negotiations, we engaged respectfully, fully, and very candidly—delivering several serious counteroffers that each represented the largest infrastructure investment Republicans have put forth,” she said. Tuesday’s announcement marked the end of more than a month of intense negotiations between Republican senators, the president and their respective staffers. With no grand bargain in sight, Biden on Tuesday reached out to three senators who are part of a bipartisan group that has been quietly working on a backup infrastructure plan. The other bipartisan infrastructure talks Sen. Bill Cassidy, R-La., tweeted that Biden called him Tuesday and “brought up flood resiliency and energy provisions” that would boost his state. “Strongly support [Capito’s] efforts. Any infrastructure package should and must be bipartisan,” he wrote. Biden also called two centrist Democrats, Kyrsten Sinema of Arizona and Joe Manchin of West Virginia. The president “urged them to continue their work with other Democrats and Republicans to develop a bipartisan proposal that he hopes will be more responsive to the country’s pressing infrastructure needs,” White House press secretary Jen Psaki said in a statement Tuesday afternoon. Biden is scheduled to leave for Europe on Wednesday, but Psaki said he designated key Cabinet members and White House aides to meet with the senators while he is traveling. Other senators working on the alternative plan include Sens. Rob Portman, R-Ohio, and Mitt Romney, R-Utah. The lawmakers crafting the proposal planned to meet on Tuesday afternoon. The group aims to win over as many as 20 centrist senators to back their plan once it is finalized. While it is unclear what that final plan would contain, it could cost just under $900 billion, according to reports. The price tag would be roughly half of Biden’s last $1.7 trillion offer to the GOP. Senate Majority Leader Chuck Schumer, D-N.Y., said Tuesday that the bipartisan group of senators “are trying to put something together that might be closer to what the president needs” than Capito’s offer. While Capito last sent Biden an offer approaching $1 trillion, only a fraction of it was actual new spending, and the rest was money repurposed from other federal agencies. But congressional leaders have not yet put their weight behind the larger group of senators’ talks. And it is unclear whether Republican Senate Minority Leader Mitch McConnell would support any big infrastructure bill at all. On the Democratic side, Manchin will play an outsized role in any eventual bill passed by the chamber, where Democrats only hold a one-seat majority. So far, Manchin has insisted that any infrastructure bill be bipartisan. His stance could force his party to embrace a smaller, bipartisan infrastructure package this summer and then wait until later in the year to tackle other priorities, such as care for dependents and clean energy projects. » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC https://www.cnbc.com/select/best-credit-cards/ #CNBC #CNBCTV