Biden, GOP Senator Talks As Time Drags On Infrastructure Deal - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Washington Wire
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Washington Wire RSS Get our newsletter
Order Prints
June 3, 2021 Washington Wire
Share
Share
Post
Email

Biden, GOP Senator Talks As Time Drags On Infrastructure Deal

Richmond Times-Dispatch (VA)

WASHINGTON - For nearly an hour, President Joe Biden and the top Senate Republican negotiating infrastructure met Wednesday behind closed doors - two seasoned legislators engaged in another round of conversations, but emerging with few outward signs of tangible progress ahead of a deadline next week.

The White House billed the private meeting as more of a conversation with West Virginia GOP Sen. Shelley Moore Capito, rather than a formal negotiation. No new offers were expected to be presented. More than anything, the session in the Oval Office was seen through the political lens of the president and Republicans trying to show the public what Americans say they want - a willingness to work together, even if no deal is within reach.

Biden and Capito had a "constructive and frank conversation," according to a White House official granted anonymity to discuss the private talks. The senator's office said she is encouraged by the ongoing conversations. The two agreed to reconnect Friday.

Still, talks over Biden's top legislative priority have been moving slowly, a daunting undertaking given the massive infrastructure investment, and time for a deal is running out. The administration has set a June 7 deadline to see clear direction and signs of progress.

"The fact that the president is having Sen. Capito here today and has been having ongoing discussions with Republicans in the Senate and that he's eager to find a path forward on bipartisanship work certainly tells you, I think, what you need to know about what he thinks about working with people even when there's disagreement," White House Press Secretary Jen Psaki said ahead of the afternoon session.

Privately, the president has sized up the GOP's latest $928 billion offer as unworkable, in large part because it taps unused COVID-19 funds. Instead, Biden wants to hike the corporate tax rate - a nonstarter for Senate Republicans - to generate revenue for his $1.7 trillion package.

The ongoing talks may take on new importance after Democrats suffered a setback Wednesday in their efforts to attempt to pass this and other Biden priorities on party-line votes. The Senate parliamentarian signaled new limits on how many times Democrats can use the budget reconciliation process that allows a 51-vote threshold, rather than the 60 votes typically needed to advance legislation. In a four-page memo, the parliamentarian made it clear Democrats will likely have only more only one more opportunity to use the budget process this year, essentially closing the door on a strategy they were eyeing for multiple votes.

Friday's next round of talks between Biden and the Republican senator would overlap with the release of the May jobs report, as private economists estimate a meaningful increase from the disappointing April figures. May's jobs figures could provide evidence as to whether Biden's earlier $1.9 trillion COVID relief package has helped put the country on track to recover the jobs lost to the pandemic.

Heading into the meeting, Capito was expected to re-up the GOP's push to repurpose the coronavirus relief fund to pay for infrastructure investments, said Senate Republican leader Mitch McConnell, who has tasked her to lead the discussions.

"That's the key to getting a bipartisan agreement," McConnell said at a press conference in Kentucky. He said he particularly wants to halt unemployment assistance that he says is preventing Americans from returning to work.

"The coronavirus is behind us. We need to get back to work," McConnell said.

The White House has pared back the president's initial $2.3 trillion bid, now tallied at $1.7 trillion, with Biden proposing to fund the investment by raising the corporate tax rate from 21% to 28%.

Without a bipartisan agreement with Republicans, Biden will be faced with trying to muscle support from Democrats alone. That approach also poses political challenges, particularly in the evenly split Senate, where the administration has no votes to spare if the president tries to push through the package under the budget rules that allow for a simple majority vote.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Older

Sputnik Light vaccine (the first component of Sputnik V vaccine) demonstrates 78.6-83.7% efficacy among the elderly in Argentina

Newer

2 remain hospitalized following EVRAZ steel mill explosion in Pueblo

Advisor News

  • Health insurance premium tax bill advancing
  • The Medi-Cal money pit
  • The untapped potential of Qualified Longevity Annuity Contracts
  • NYC's fiscal outlook on downslide over budget gaps
  • Health insurance premium tax bill moving in Iowa House
More Advisor News

Annuity News

  • An Application for the Trademark “GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY” Has Been Filed by Great-West Life & Annuity Insurance Company: Great-West Life & Annuity Insurance Company
  • The forces shaping life and annuities in 2026
  • Variable annuity sales surge as market confidence remains high, Wink finds
  • New Allianz Life Annuity Offers Added Flexibility in Income Benefits
  • How to elevate annuity discussions during tax season
More Annuity News

Health/Employee Benefits News

  • From $500 to $1.5K: Marylanders feel financial impact of expired ACA tax credits
  • The politics behind America's new health insurance shock
  • Health insurance premium tax bill advancing
  • Families oppose bill locking in Iowa Medicaid privatization
  • The Medi-Cal money pit
More Health/Employee Benefits News

Life Insurance News

  • Hulse, Murray
  • Murray Giles Hulse
  • Oaktree grabs control of Atlantic Coast Life Co. in blockbuster A-Cap deal
  • AM Best Removes From Under Review With Developing Implications and Downgrades Credit Ratings of Banner Life Insurance Company and William Penn Life Insurance Company of New York
  • The forces shaping life and annuities in 2026
More Life Insurance News

- Presented By -

Top Read Stories

More Top Read Stories >

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Elevate Your Practice with Pacific Life
Taking your business to the next level is easier when you have experienced support.

Your Cap. Your Term. Locked.
Oceanview CapLock™. One locked cap. No annual re-declarations. Clear expectations from day one.

Ready to make your client presentations more engaging?
EnsightTM marketing stories, available with select Allianz Life Insurance Company of North America FIAs.

Press Releases

  • RFP #T02226
  • YourMedPlan Appoints Kevin Mercier as Executive Vice President of Business Development
  • ICMG Golf Event Raises $43,000 for Charity During Annual Industry Gathering
  • RFP #T25521
  • ICMG Announces 2026 Don Kampe Lifetime Achievement Award Recipient
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet