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US Senate

AP News | Equities.com |

The White House said Monday that President Joe Biden is awaiting an infrastructure counteroffer from Senate Republicans after a core group of GOP negotiators rejected his latest $1.7 trillion proposal, leaving the fragile talks on a compromise at a standstill before a Memorial Day deadline.

White House Press Secretary Jen Psaki said the president is “eager to engage” and would welcome more talks with the senators. But she said the Republicans have “a ways more to go” to find common ground. Biden dropped $500 billion from his initial $2.3 trillion offer, and Psaki said the Republicans raised their $568 billion offer by about $50 billion. Republicans have rejected Biden’s plan to pay for the road and broadband spending with a corporate tax increase.


Reuters | Equities.com |

A bipartisan group of 20 U.S. senators introduced legislation on Wednesday to provide the cash-strapped U.S. Postal Service (USPS) with $46 billion in financial relief over 10 years.

The U.S. House of Representatives Oversight and Reform Committee voted unanimously to approve companion legislation last week.