Reuters reports that U.S. President Joe Biden offered to scrap his proposed corporate tax hike during negotiations with Republicans, in what would be a major concession by the Democratic president as he works to hammer out an infrastructure deal.

Biden offered to drop plans to raise corporate tax rates as high as 28% and instead set a minimum 15% tax rate aimed at ensuring all companies pay taxes, sources said.

In return, Republicans would have to agree to at least $1 trillion in new infrastructure spending, one source said. And Biden has not given up on seeking as much as $1.7 trillion.

With the change, funding for the plan would lean heavily on increased tax enforcement, scrapping inheritance tax breaks for wealthy families as well as other sources like $75 billion in unspent COVID-19 relief funds, one source said.