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President Biden Says He's Open To Debate On How Government Will Pay For American Jobs Plan

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CBS4's Natalie Brand has the latest from the White House.

Video Transcript

- Turning now to the Biden presidency, President Joe Biden says he is open to debate on how the government will pay for his American Jobs Plan.

- The package calls for a giant upgrade of the nation's infrastructure, from roads to bridges to broadband. CBS 4's Natalie Brandt has the latest from the White House .

NATALIE BRAND: A week after unveiling his infrastructure plan, President Biden is trying to rally support for it.

JOE BIDEN: It's the single largest investment in American jobs since World War II. And it's a plan that puts millions of Americans to work to fix what's broken in our country.

NATALIE BRAND: The multitrillion dollar proposal aims to upgrade roads and bridges in need of repair, as well as the building blocks of the modern economy, which include broadband.

JOE BIDEN: We are America. We don't just fix for today. We build for tomorrow.

NATALIE BRAND: The president is also defending his proposal to raise the corporate tax rate from 21% to 28% to help pay for the package in the face of pushback from Republicans and some business groups.

MITCH MCCONELL: In fact, it's a whopping tax increase on the most productive parts of our society, both companies and individuals, which it won't even come close to paying for the size of the so-called infrastructure package.

NATALIE BRAND: The president Wednesday said he's open to ideas from both sides of the aisle, but signaled inaction is not an option.

JOE BIDEN: We'll have good faith negotiations. And any Republican who wants to get this done, I invite.

NATALIE BRAND: President Biden has named five cabinet secretaries to help sell the plan. That includes commerce Secretary Gina Raimondo, who says she welcomes critics to the negotiating table.

GINA RAIMONDO: Talking to them-- you know, sitting down, listening, engaging them.

NATALIE BRAND: Over on Capitol Hill, the Senate parliamentarian this week ruled Congress could use Budget Reconciliation again this year as Senate Democrats weigh that as an option to potentially pass a bill with just a simple majority. Natalie Brand, CBS News, the White House.

- The president said he and the vice president will be meeting with lawmakers on both sides of the aisle over the coming weeks.