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Political and Legislative

Democrats Agree to a Payment Framework for the $3.5 Trillion Social and Environmental Bill

The White House and congressional Democrats have agreed to a framework of options to pay for their huge, emerging social and environment bill, top Democrats said Thursday. Now they face the daunting task of narrowing the menu to tax possibilities they can pass to fund President Joe Biden’s $3.5 trillion plan.

Senate Majority Leader Chuck Schumer of New York and House Speaker Nancy Pelosi of California announced the progress as Biden administration officials and Democratic congressional leaders negotiated behind the scenes. The package aims to rewrite tax and spending priorities to expand programs for Americans of all ages, while upping efforts to tackle income inequality and fight climate change.

Staring down a self-imposed Monday deadline, lawmakers said they would work nonstop to find agreement on specifics. Democrats’ views on those vary widely, though they largely agree with Biden’s idea of raising taxes on corporations and the wealthy to fund the package.

Read the source article at Associated Press News

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