Senate Republicans unveil new infrastructure package
The National Lumber and Building Material Dealers Association (NLBMDA) reported that Republicans in the Senate have introduced a new infrastructure proposal.
The proposed legislation is part of Senate Republicans’ ongoing negotiations with President Biden and congressional Democrats on infrastructure legislation.
The Republicans’ proposal calls for a $928 billion investment in roads, bridges, transit systems, rail and other infrastructure projects. But the proposal does not include any new tax increases on individuals or businesses.
To help pay for the plan, lead Republican negotiator Sen. Shelley Moore Capito (R-WV) has suggested repurposing funds from the COVID-19 supplemental unemployment insurance program.
Congressional Republicans and Biden still remain far apart on a potential infrastructure agreement.
Biden’s latest offer totals $1.7 trillion which is $700 billion higher than any Republican proposal to date.
Democrats continue to push for new investments in education, child care, paid leave and other social programs while Republicans prefer that the bill be focused solely on traditional infrastructure projects.
Republicans have also remained firm in their opposition to the new tax increases proposed by President Biden, as articulated by several members of Congress directly to NLBMDA.
The NLBMDA said that, in recent weeks, it has leveraged key relationships with senior staff on several congressional committees to represent the LBM industry’s priorities in any infrastructure package.
As a result of these relationships and ongoing federal advocacy, NLBMDA expects many industry-backed proposals to be included when a bill is released. More details on that will be forthcoming.
Summary of Senate GOP Proposal:
- $506 billion for roads, bridges and major infrastructure projects;
- $98 billion for public transit;
- $72 billion for water systems;
- $65 billion for broadband;
- $56 billion for airports;
- $46 billion for passenger and freight rail systems;
- $22 billion for ports and waterways;
- $22 billion for water storage;
- $21 billion for safety efforts; and
- $20 billion for infrastructure financing.