GOP senators ready $1 trillion infrastructure counteroffer to Biden ahead of Memorial Day deadline

Biden's initial infrastructure plan was set to cost $2.3 trillion.
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Senate Republicans are preparing a $1 trillion counteroffer to President Biden's infrastructure plan, as Washington Democrats and Republican continue to try to strike a bipartisan deal before Congress' Memorial Day recess.

Republicans, led by Sen. Shelly Moore Capito, said Tuesday they would disclose further details of their plan before Thursday, ahead of the holiday deadline, according to the Associated Press.

"We expect this week to be a week of progress," White House Press Secretary Jen Psaki said Tuesday. A sentiment echoed by Capito, who said Republicans are "anxious to have a bipartisan agreement."

Biden in March announced his $2.3 trillion infrastructure plan, which Republicans uniformly rejected, with Senate Republican leader Mitch McConnell calling it a "Trojan horse" for tax hikes. They instead proposed their own $568 billion infrastructure plan.

Both sides have compromised somewhat, with Biden dropping the price tag of his plan to $1.7 trillion and Republicans bumping their's by $50 billion last week.