The Senate convened at 10 a.m. and will resume consideration of S.1260, United States Innovation and Competition Act of 2021. At some point today, Senate Republicans are expected to block a bill creating a commission to investigate the pro-Trump riot at the US Capitol on January 6th, which left five dead and about 150 police officers injured. The House-passed legislation aims to create a 10-person panel to figure out what happened, including the law enforcement’s “preparedness and response,” and then report recommendations in order “to prevent future acts of targeted violence and domestic terrorism.” The Senate is expected to vote on the commission bill today, though timing is unclear and will depend on what happens with the China-focused U.S. Innovation and Competition Act. We are all but likely to see Senate Republicans deploy the filibuster for the first time in the Biden administration.
In a hearing of note, at 12 p.m. the House Financial Services Committee will have top bank executives like JPMorgan’s Jamie Dimon and Bank of America’s Brian Moynihan testify about “Holding Megabanks Accountable: An Update on Banking Practices, Programs and Policies.” Jaime Dimon testimony.
Senate Republicans on Thursday morning unveiled a revised counteroffer for infrastructure spending, outlining roughly $928 billion in a package that’s still far short of what the White House has proposed. The Republican plan proposes more than $500 billion for roads, $98 billion for public transit, $46 billion for passenger rail and more than $70 billion for water infrastructure. Republicans recommended additional spending for ports, waterways, airports and broadband connectivity, maintaining their belief that any package should hew to what they describe as traditional infrastructure. But the plan does not close the other gaps that exist with the White House, where Biden recommended more than $2 trillion in new spending on a wide range of areas, including elder care, parents and families. Republicans count about $700 billion in still-unspent funds under the last coronavirus relief package that they would use to fund this package. That includes money designated for use between 2022 and 2031 to help state and local governments, bolster coronavirus testing and expand the child tax credit, all major Democratic priorities.
The counteroffer includes:
$506 billion for roads, bridges and major infrastructure projects, including $4 billion for electric vehicles
$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
$20 billion for infrastructure financing
Path forward: Statement by Press Secretary Jen Psaki on Senate Republicans’ Infrastructure Proposal “Though there are no votes in Congress next week, we will work actively with members of the House and Senate next week, so that there is a clear direction on how to advance much needed jobs legislation when Congress resumes legislative business during the week of June 7.”
Yesterday, more than 200 House Democrats banded together to issue a new warning as part of the contentious debate over infrastructure spending: Include strong union and labor protections, or possibly risk losing some of their support. In their letter, House Democrats stressed that Congress must couple any new federal loans, grants or tax benefits to improve the country’s infrastructure with a series of policy mandates to help workers. The companies that stand to profit from this potential influx of government aid must make it easy for employees to unionize, pay them prevailing wages, take action to prevent wage theft and train workers through apprenticeship programs for future positions, the lawmakers said.
President Biden will be in Cleveland today to deliver a speech on the economy at Cuyahoga County Community College that is expected to include a pitch for his sweeping jobs and infrastructure package, which is at a key juncture in Congress. Specific to Cleveland, Northeast Ohio would benefit from investments into expanding broadband access and replacement of lead pipes for cleaner drinking water, which would potentially lend to job creation.
Of note, President Biden will propose a $6 trillion budget on Friday that would take the United States to its highest sustained levels of federal spending since World War II, while running deficits above $1.3 trillion throughout the next decade.
Mr. Biden’s first budget request as president calls for the federal government to spend $6 trillion in the 2022 fiscal year, and for total spending to rise to $8.2 trillion by 2031. The growth is driven by Mr. Biden’s two-part agenda to upgrade the nation’s infrastructure and substantially expand the social safety net, contained in his American Jobs Plan and American Families Plan, along with other planned increases in discretionary spending.
Upon going into recess Friday for the Memorial Day state work period, the Senate will next convene on Monday, June 7th. The House will be in Memorial Day recess next week, and a committee work week the week of June 7th. The House will next convene on Monday, June 14th. Washington, D.C. Daily Update will resume publication on Monday, June 7th.
Adam S. Olsen, Washington, D.C.
