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A bipartisan group of ten senators reached a deal on an infrastructure plan on Thursday to present to the Biden administration for further negotiations.
The plan includes about $579 billion in new spending and, including expected future spending, would cost $974 billion over five years or $1.2 trillion over eight years, multiple outlets reported. The ten senators said there would be no tax increases.
“Our group — comprised of 10 Senators, 5 from each party — has worked in good faith and reached a bipartisan agreement on a realistic, compromise framework to modernize our nation’s infrastructure and energy technologies. This investment would be fully paid for and not include tax increases,” the group said in a statement.
The group includes Republican senators Mitt Romney, Susan Collins, Lisa Murkowski, Bill Cassidy, and Rob Portman. Democrats in the group are Kyrsten Sinema, Joe Manchin, Jeanne Shaheen, Mark Warner, and Jon Tester.