Connect with us

Hi, what are you looking for?

Politics

Pelosi Says Democrats at Decision Point on Biden’s Economic Plan

Politics52 minutes ago (Oct 26, 2021 11:36AM ET)

(C) Bloomberg. Nancy Pelosi

(Bloomberg) — House Speaker Nancy Pelosi said Tuesday that Democrats are at a decision point on what will be included and what will be left out of their economic agenda in order to move forward with a sweeping social-spending package and a vote on a separate infrastructure bill as soon as this week.

“There’s not that much more time,” Pelosi said after meeting with House Democrats Tuesday morning. “We have to have decisions largely today.”

The California Democrat said she still hoped to have votes on the tax and spending package and the infrastructure legislation by the end of the week, which would give President Joe Biden a political boost as he heads Thursday to summits with other world leaders in Europe.

But that schedule appears unlikely given the differences that remain between House and Senate Democrats on some key issues — including taxes, healthcare and measures to address climate change, and considering the complexity of the legislation. Progressive (NYSE:PGR) Democrats are continuing to insist that they won’t vote on the infrastructure bill without a firm deal on the larger package.

During the meeting with House Democrats, Pelosi said the party should embrace the compromise tax and spending plan carrying much of Biden’s agenda even though it will be substantially less than the $3.5 trillion originally envisioned, according to lawmakers.

Not ‘Fun’

Pelosi’s message was “this is not going to be fun. It’s not going to be everything we wanted but it’s going to be bigger than what we could have imagined a few years ago,” Michigan Representative Dan Kildee said after the meeting.

Democrats have been inching toward an agreement on a version of the spending plan that can pass Congress with their razor-thin majorities. Two Senate Democrats, Joe Manchin of West Virginia and Kyrsten Sinema of Arizona, have been insisting that the package shrink. Their votes are pivotal in the 50-50 Senate.

Manchin on Tuesday indicated he may be willing to raise his limit on the overall price tag from $1.5 trillion, which he has held to since the summer.

“You need to keep all options open,” Manchin said in an interview with Bloomberg Television’s David Rubenstein at the Washington, D.C., Economic Club.

But Manchin later said that he doesn’t see the price tage rising to the roughly $2 trillion that Biden has suggested would be the compromise figure.

“I’m fighting for 1.5, and I’m trying to see if we’re going to get a piece of legislation,” Manchin said at the Capitol. “We know the outline. But until you see the text it’s hard to make a final decision. So I can’t tell you specifically.”

(C)2021 Bloomberg L.P.

Pelosi Says Democrats at Decision Point on Biden’s Economic Plan

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

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

You May Also Like

World News

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered...

World News

George Soros and Bill Gates are part of a consortium acquiring a British developer of rapid-testing technology, including for Covid-19 and tropical diseases,...

Tech

If you parked your car in one of the thousands of parking spots across Calgary, there’s a good chance you paid the Calgary Parking...

Investing

ForexMay 27, 2021 02:04AM ET (C) Reuters. By Peter Nurse Investing.com — The dollar edged higher in early European trade Thursday, finding support from...

Disclaimer: Yourmorningvoice.com it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. Copyright © 2021 Your Morning Voice. All Rights Reserved