President Biden is not yet satisfied with the Republican offer on infrastructure after another call with Sen. Shelley Capito on Friday, White House press secretary Jen Psaki said.
Investors will watch Washington in the coming week for clues on whether an outsized rally in shares of companies that would benefit from President Joe Biden's proposed $1.7 trillion infrastructure plan has more room to run.
President Biden offers tax deal to Republicans in infrastructure talks
Josh Boak
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In this photo taken Thursday, May 27, 2021, Sen. Shelley Moore Capito, R-W.Va., the GOP s lead negotiator on a counteroffer to President Joe Biden s infrastructure plan, speaks at a news conference as she is joined by, from left, Sen. Pat Toomey, R-Pa., Sen. John Barrasso, R-Wyo., chairman of the Senate Republican Conference, and Sen. Roy Blunt, R-Mo., at the Capitol in Washington. (AP Photo/J. Scott Applewhite) (Copyright 2021 The Associated Press. All rights reserved)
President Joe Biden is trying to break a logjam with Republicans on how to pay for infrastructure improvements, proposing a 15% minimum tax on corporations and the possibility of revenues from increased IRS enforcement as a possible compromise.