Biden still not sold on bipartisan infrastructure plan following Manchin, Sinema WH meetings

How would a bipartisan infrastructure bill impact markets?

First Trust Advisors Chief Economist Brian Wesbury and Harbor Life Senior Director Heather Zumarraga on infrastructure, interest rates and economic growth. 

President Biden hosted West Virginia Democrat Sen. Joe Manchin and Arizona Democrat Sen. Kyrsten Sinema at the White House on Monday, after which he said he still had questions about their bipartisan infrastructure proposal.

"The President thanked each senator for their engagement toward making historic investments in economic growth, middle class jobs, and the clean energy economy, and told them he was encouraged by what has taken shape but that he still has questions about the policy as well as the means for financing the bipartisan group’s proposal," the White House said in a readout of the meetings on Monday.

The White House said discussions were expected to continue over the coming days, while also noting that Biden would be focused on budget resolution discussions in the Senate.

KUDLOW BLASTS 'COUNTERPRODUCTIVE' BIDEN FOREIGN POLICY ON INFRASTRUCTURE: IT'S NEVER OKAY TO CYBER HACK

Biden’s talks with Republicans about an infrastructure plan fell through after the two parties could not agree on what should be included in the plan or how to fund it.

Following the collapse of those negotiations, a group of 21 Democrat and Republican senators began working up a roughly $1 trillion bipartisan proposal, though details have not yet been finalized or released. 

GET FOX BUSINESS ON THE GO BY CLICKING HERE 

Should nothing materialize from the discussions among the bipartisan group of senators, Democrats have paved the way to move forward with an infrastructure plan via the fast-track budgetary process known as reconciliation, where they would not need any Republican votes so long as each Senate Democrat is on board.

Source: Read Full Article