Trading Concept
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Trading Concept
No Result
View All Result
Home Trading News

Senate aims to pass Biden’s social spending plan before Christmas, Schumer says

by
November 16, 2021
in Trading News
0
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Freddie Mac House Price Index Increased in August to New High; Up 4.0% Year-over-year

Monday: ISM Manufacturing, Construction Spending

Senate Majority Leader Chuck Schumer, a Democrat from New York, speaks to members of the media at the U.S. Capitol in Washington, D.C., on Monday, Oct. 4, 2021.

Stefani Reynolds | Bloomberg | Getty Images

Senate Democrats hope to pass President Joe Biden‘s social safety net and climate plan before Christmas and put the finishing touches on their agenda before next year’s midterm elections can stifle progress.

The House aims to approve the $1.75 trillion economic package later this week. The Senate then plans to take up the legislation after it returns from a Thanksgiving recess.

“The [Build Back Better Act] is very important to America, we believe it’s very popular with Americans, we aim to pass it before Christmas,” Senate Majority Leader Chuck Schumer told reporters Tuesday.

Democrats have to clear several hurdles to pass a bill that — along with the $1 trillion infrastructure package that Biden signed into law Monday — they see as their key to trying to defend their majorities in Congress next year. With the Build Back Better Act, the party hopes to push out a bevy of federal benefits including child-care assistance, a one-year extension of the child tax credit, universal pre-K and expanded Medicare and Medicaid.

The challenges start this week. House Democrats need to win over a handful of centrist holdouts who want to see the Congressional Budget Office’s long-term budgetary estimate for the bill before they agree to vote for it.

The CBO expects to deliver its score Friday. The timeline sets up a House vote by Saturday.

Getting the plan through the Senate could prove trickier. As they try to pass the bill with a simple majority through special budget rules, Democrats cannot afford any defections from their 50-member caucus.

Conservative Democratic Sen. Joe Manchin, D-W.V., has indicated he will try to strike four weeks of paid leave from the House package. He has also expressed concerns about moving forward with the bill at all as inflation lingers at stubbornly high levels.

Manchin said the coming CBO score could affect his vote.

“So to be fair for everybody, let’s see what the score is, let’s see exactly what they’re intending to do,” he told reporters on Tuesday.

Schumer may have to make changes to the House plan to keep his whole caucus on board and pass the bill. If the Senate makes tweaks, the proposal would have to go back to the House for a second vote.

Democrats do not want to see the process slip too far into next year. Substantial legislation often grinds to a halt during election years.

The party has billed its plan as one of the most significant pieces of legislation in years, even after Manchin led efforts to cut its price tag in half. Along with expanding the social safety net, it would offer a range of tax credits and incentives to speed up the country’s transition to green energy and transportation.

Republicans — and the Democratic Manchin — have raised concerns that the plan will exacerbate high prices for consumers.

Beyond efforts to pass the two planks of their agenda, Democrats have tried to find the best way to pitch Americans on how the policies will benefit them. Biden on Tuesday traveled to New Hampshire, a swing state that will help to decide control of the Senate next year, to sell the bipartisan infrastructure bill.

Schumer expects Biden to make similar trips if Congress can pass the larger safety-net bill.

Biden “will go around the country talking about it, as will all of our senators and congressmen, and I think it’ll prove to be very beneficial to those who voted for it,” he said.

Subscribe to CNBC on YouTube.

ShareTweetPin

Related Posts

Freddie Mac House Price Index Increased in August to New High; Up 4.0% Year-over-year

by
October 2, 2023
0

by Calculated Risk on 10/01/2023 10:11:00 AM Today, in the Calculated Risk Real Estate Newsletter: Freddie Mac House Price Index...

Monday: ISM Manufacturing, Construction Spending

by
October 2, 2023
0

by Calculated Risk on 10/01/2023 07:06:00 PM Weekend: o Schedule for Week of October 1, 2023 Monday: o At 10:00...

These 5 Stocks Are Setting Up This Buying Opportunity After Strong Runs

by
October 1, 2023
0

Post Content

7 Stock Picks You Might Not Have Heard About. Why They’re ‘Best-of-Breed Bisons.’

by
October 1, 2023
0

Here are 7 Stock Picks You Might Not Have Heard About. Why They’re Best-of-Breed Bisons. | Barron's D.A. Davidson, a...

Best China Stocks: These Two Are Flashing Buy Signals Now

by
October 1, 2023
0

Post Content

Next Post

Dr. Fauci says U.S. Covid cases need to fall below 10,000 a day to get to a 'degree of normality'

What the COP26 climate conference really accomplished

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • WHO says Covid vaccine booster programs will prolong pandemic

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Spin or Split? AT&T Has a Big Decision to Make on Discovery Stake.

    0 shares
    Share 0 Tweet 0
  • Here’s how Carl Icahn is positioning for a possible recession in America

    0 shares
    Share 0 Tweet 0
  • Some lawmakers and their families are betting thousands of dollars on crypto

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by tradingconcept.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.tradingconcept.net