Show an ad over header. AMP

I am the FIRST

GOP senators unveil $928 billion infrastructure counteroffer

A group of Senate Republicans on Thursday released the framework for their latest counterproposal to President Biden's infrastructure plan, raising their offer from $568 billion to $928 billion.

Why it matters: The White House has indicated that Memorial Day is the soft deadline for bipartisan negotiations. Biden had previously lowered the size of his infrastructure proposal from $2.3 trillion to $1.7 trillion.


  • While hopes for a bipartisan deal were high, some Democrats are eager for Biden to abandon the effort to win over Republicans and use the budget reconciliation process, which would only require 50 votes in the Senate.
  • However, this could risk losing support from more moderate Democrats who want Republicans on board with the infrastructure plan.

What they're saying: “We believe that this counteroffer delivers on what President Biden told us in the Oval Office that day. And that is to try to reach somewhere near $1 trillion over an eight-year period of time," Sen. Shelley Moore (R-W.Va.), who has been leading negotiations on behalf of Republicans, said at a press conference.

By the numbers:

  • $506 billion for roads and bridges.
  • $98 billion for public transit.
  • $46 billion for passenger and freight rail.
  • $21 billion for safety.
  • $22 billion for ports and waterways.
  • $56 billion for airports.
  • $22 billion for water storage.
  • $72 billion for water infrastructure.
  • $65 billion for broadband infrastructure.
  • $20 billion for infrastructure financing.

Why the startup world needs to ditch "unicorns" for "dragons"

When Aileen Lee originally coined the term "unicorn" in late 2013, she was describing the 39 "U.S.-based software companies started since 2003 and valued at over $1 billion by public or private market investors."

Flashback: It got redefined in early 2015 by yours truly and Erin Griffith, in a cover story for Fortune, as any privately-held startup valued at $1 billion or more. At the time, we counted 80 of them.

Keep reading... Show less

Scoop: Facebook's new moves to lower News Feed's political volume

Facebook plans to announce that it will de-emphasize political posts and current events content in the News Feed based on negative user feedback, Axios has learned. It also plans to expand tests to limit the amount of political content that people see in their News Feeds to more countries outside of the U.S.

Why it matters: The changes could reduce traffic to some news publishers, particularly companies that post a lot of political content.

Keep reading... Show less

Scoop: Amazon quietly getting into live audio business

Amazon is investing heavily in a new live audio feature that's similar to other live audio offerings like Clubhouse, Twitter Spaces and Spotify's new live audio platform, sources tell Axios.

Why it matters: As with Amazon's efforts in podcasting and music subscriptions, the company sees live audio as a way to bolster the types of content it can offer through its voice assistant, Alexa, and its smart speaker products.

Keep reading... Show less

Hurricane Ida exposes America's precarious energy infrastructure

The powerful hurricane that plunged New Orleans into darkness for what could be weeks is the latest sign that U.S. power systems are not ready for a warmer, more volatile world.

The big picture: “Our current infrastructure is not adequate when it comes to these kinds of weather extremes,” Joshua Rhodes, a University of Texas energy expert, tells Axios.

Keep reading... Show less

"We must go further": 70% of adults in European Union are fully vaccinated

About 70% of adults in the European Union are fully vaccinated against COVID-19, Ursula von der Leyen, the president of the European Commission, said Tuesday.

Why it matters: The milestone makes the E.U. one of the world's leaders in inoculations, after an initially lagging vaccine campaign, the New York Times notes.

Keep reading... Show less

What Elizabeth Holmes jurors will be asked ahead of fraud trial

Jury selection begins today in USA v. Elizabeth Holmes, with the actual jury trial to get underway on Sept. 8.

Why it matters: Theranos was the biggest fraud in Silicon Valley history, putting both hundreds of millions of dollars and thousands of patients' health at risk.

Keep reading... Show less

Insights

mail-copy

Get Goodhumans in your inbox

Most Read

More Stories