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4/22, 6:28 PM (Source: TeleTrader)
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Republicans propose to spend $568B on infrastructure

United States Senators of the Republican party presented on Thursday their counter-proposal to President Joe Biden's infrastructure bill, allocating a total of $568 billion, a fourth of the original $2.3 trillion price tag.

GOP lawmakers proposed a narrower plan, focusing on repairing real estate, water pipes, seaports and broadband connectivity, but leaving out some of Biden's investments, such as into schools and eldercare.

The alternative plan also suggests funding the bill by imposing taxes on those who will be using the renewed infrastructure, including gas and electric vehicle taxes, but it omits tax hikes on American corporations.

Breaking the News / LH