Bipartisan U.S. Senate group backs infrastructure framework

WASHINGTON (Reuters) - A bipartisan group of 20 U.S. senators - 10 from each caucus - said on Wednesday it supported a framework for infrastructure investment.

"We look forward to working with our Republican and Democratic colleagues to develop legislation based on this framework to address America's critical infrastructure challenges," the group said in a statement.

The statement followed an announcement last week that a smaller bipartisan group of senators had reached an agreement on an infrastructure framework, which a source said would cost $974 billion over five years and $1.2 trillion over eight years, and includes $579 billion in new spending.

That proposal falls short of President Joe Biden's current $1.7 trillion offer. Infrastructure investment is one of the Democratic president's top legislative priorities.

The White House told lawmakers this week it would take stock of where things stand by the end of next week, said spokesman Andrew Bates.

(Reporting by Makini Brice and Richard Cowan; Additional reporting by Trevor Hunnicutt; Editing by Chris Reese and Peter Cooney)