Is a bipartisan infrastructure plan possible?

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VIEW IN BROWSER | SUBSCRIBE TUE, MAY 11, 2021 CNBC POLITICS EDITOR'S NOTE Hello,   It's a big week for President Biden's plan to reshape American infrastructure. He is slated to hold several high profile meetings, including with top Republicans such as Mitch McConnell, the GOP's leader in the Senate.   It doesn't mean some grand bargain is in the offing, however. As CNBC's Christina Wilkie points out, Democrats and the GOP haven't gotten any closer to agreeing about how to pay for the $2 trillion plan to revamp the nation's roads and bridges, bolster airports and ports, and increase broadband and green technology.   Biden and his fellow Democrats want to raise the corporate tax rate from its current level of 21%, which was set by the Trump tax cuts of 2017. While the president has said he wants a 28% rate, he has signaled openness to 25% in a bid to appease moderates in his party, such as Sen. Joe Manchin of West Virginia, a pivotal vote in that evenly split chamber.   Republicans, unsurprisingly, are balking at this – and the overall price tag. They consider the Trump tax cuts a signature achievement, and they have dug in hard against jacking up the corporate rate even by a few percentage points.   Still, Biden isn't giving up on talking about it.   The president is set to meet with McConnell, House GOP leader Kevin McCarthy, House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer on Wednesday. Then on Thursday, he'll meet with six Republican senators, including West Virginia's Shelley Moore Capito.   After that, we'll have our best indication yet whether a bipartisan infrastructure agreement is truly a pipe dream.   Thoughts? Email us at CNBCPolitics@nbcuni.com.   Have friends or colleagues who might like this newsletter? They can sign up here.    Subscribe to CNBC's daily new podcast The News with Shepard Smith, which provides deep, non-partisan coverage and perspective on the day's most important stories. Mike Calia @Michael_Calia KEY STORIES  As Biden leads infrastructure talks, odds of a bipartisan deal look bleak The clock is ticking on President Joe Biden's goal of getting congressional Republicans to back some, if not all, of his wide-ranging infrastructure proposal. Biden prepared to take additional steps after Colonial Pipeline ransomware attack The attack, carried out by the criminal cyber group known as DarkSide, forced the company to shut down approximately 5,500 miles of pipeline. Treasury will give states a lot of power to decide how to spend $350 billion in Covid relief funds Officials said states and territories are not allowed to use the funding to offset tax cuts or make a deposit to a pension fund. Biden urges employers to boost wages but warns workers they'll lose unemployment pay if they reject jobs Biden said his administration will distribute more coronavirus relief funds as it tries to spur hiring after a weak April jobs report. Is a $300 unemployment boost holding back jobs? Yes and no The April jobs report is fueling concern in some circles over a $300 weekly supplement to unemployment benefits. Its true effect is hard to judge, however. Progressive groups target Koch network, other critics of Biden spending plans with new campaign Progressive groups are launching a large scale campaign against deficit hawks as President Joe Biden looks to pass a $2 trillion infrastructure plan. Infrastructure plan should cost up to $800 billion, McConnell says ahead of Biden meeting Sen. Mitch McConnell is set to discuss infrastructure with President Joe Biden and congressional leaders on Wednesday. FDA permits use of the Pfizer-BioNTech Covid vaccine in kids ages 12 to 15 The FDA granting use of the shot in younger age groups will allow middle school-aged students to get vaccinated before school starts this fall.     Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS