Originally a $3.5 trillion dollar proposal, Biden’s social services and climate change package has been scaled back significantly to about $1.75 trillion. This has been the expected outcome for months as some concessions must to made in order for the plan to have enough votes.
“It is less than what was projected to begin with, but it’s still bigger than anything we have ever done in terms of addressing the needs of America’s working families,” Pelosi said Sunday on CNN’s “State of the Union.”
Lisa Mascaro and Hope Yen of AP News
This “human infrastructure” bill, as some Democrats are calling it, is crucial in the passing of the bipartisan infrastructure bill as well. Leading Democrats have been adamant that they will not vote on the bipartisan infrastructure bill in the House until the social services bill is passed in the Senate. The social services bill includes expanded child tax credit, expanded Medicare, and various investments into climate change. Democrats have remained stubborn on the issue and have forced Biden to negotiate the social services package before the infrastructure bill is passed.
One key debate has been over how to pay for the social services bill. Initially the plan was to reverse the Trump administrations tax cuts and raise rates on corporations but this was quickly rejected by Democrat Kyrsten Sinema of Arizona. Now the White House is considering a tax on the investment incomes of billionaires. Senator Joe Manchin has reportedly been okay with this kind of wealth tax however it is unclear how much of a tax he would support.
Biden said on Monday October 25th that he felt very positive about reaching an agreement on his domestic policy bill and hopes Congress can vote as soon as this week. Democrats have been working intensely so President Biden can spotlight his administrations accomplishments to world leaders at two overseas summits later this week.
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