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CEO group says Biden should stick to 'real infrastructure' and 'leave the rest of the stuff for something else'

CEO group says Biden should stick to 'real infrastructure' and 'leave the rest of the stuff for something else'

President Joe Biden.
Photo by Chip Somodevilla/Getty Images




Business Roundtable's CEO told Bloomberg that Biden's infrastructure plan should stick to roads and bridges.




The lobbying group also opposes raising the corporate tax to 28% as a way to fund the plan.




Biden expressed willingness to work with Republicans on negotiating the size of the tax hike.




See more stories on Insider's business page.


President Joe Biden's $2.3 trillion infrastructure plan is ambitious. It includes funding for things like climate change and research initiatives, and an influential business lobbying group wants Biden to scale things way back.Josh Bolten, chief executive officer of Business Roundtable, which represents CEOs of the largest US companies, said in an interview with Bloomberg TV on Thursday that the organization wants Biden to limit the scope of the package to mainly address roads and bridges and "leave the rest of the stuff for something else."Bolten, who was former President George W. Bush's chief of staff for almost three years, did not clarify what he was referring to as "something else.""It's the real infrastructure that can attract bipartisan support," Bolten said, adding that "more modern infrastructure" also needs investment, citing broadband as an example. In this regard, Bolten is slightly more positive on Biden's plan than Republican leadership, which has argued that very little of Biden's plan fits the definition of infrastructure. In fact, Bolten said the Business Roundtable favors a "substantial amount" of what Biden has proposed. For his part, Biden has argued that infrastructure has always periodically undergone reinventions, in step with technology.
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