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It's Friday morning. I'm Olivia Rheingold, and this is your Politico Playbook Daily Briefing.

28%. That's the rate at which President Joe Biden wanted to up the corporate tax rate from its current position at 21%.

So you might think that when Biden offered to go a whole lot lower than that 28% goal,

or even the current rate, that the White House and GOP negotiators might actually make some progress on a deal.

Think again.

This morning, we're learning that even after Biden told Senator

Shelley Moore Capito, the lead Republican negotiator here, that he'd consider lowering

the corporate tax rate to a 15% minimum, she's still bearish on a deal. Here's what the

latest reporting says

about the dynamics between Capito and Biden

ahead of yet another meeting today.

The Washington Times says that Republican negotiators

are poised to reject Biden's plan

to pay for his infrastructure deal

through a 15% corporate tax floor.

The important word there for Republicans seems to be

floor, with a source telling the Washington Post yesterday, quote, this change would take aim at

dozens of profitable U.S. corporations that pay little to nothing to the federal government annually.

To ensure that the administration is getting at least 15%

from companies, the White House has also proposed stepping up IRS enforcement. Biden's offer

doesn't touch what Republicans have said would be a non-starter for them, the part of former

...