President Biden’s plans for his new infra investment got a big boost from the Democrats Spending plan. Senate Democrats settled on a $3.5T investment plan that they plan to add in a budget resolution. This was stated by Chuck Schumer, the majority leader in the Senate.
He told reporters that the Democrats have agreed after 2 hours of talks that included officials from the White House and Budget Committee Democrats. The GOP was not part of the negotiations.
Democrats Spending Plan Will First Have To Clear Both Houses
The budget resolution will have to clear the House and Senate with close party support. That would enable it to bypass the Republican filibuster. This reconciliation process was successful to push through the American Rescue Plan.
Even as the compromised version of the original infrastructure plan is being molded into legislation with bipartisan support, Chuck Schumer revealed that the investment in infra and another spending would come to around $4.1T. That is close to President Biden’s original proposal.
Schumer said that this Democrats spending plan would have an intense change that would help families for generations. The next step of the plan would be to ensure the support of all 50 members of the Democratic caucus. Senator Tim Kaine said that the way forward would be to have the Budget Committee on board and then ensure the support of the caucus to the Democrat’s spending plan.
The Democrats spending plan will require the backing of all Democrats to get through the Senate and initiate the reconciliation process.
While the original Democrats spending plan as proposed by progressives such as Bernie Sanders was $6T, Sanders said that agreeing to $3.5T was a big deal that would transform the nation’s infrastructure. The Democrats spending plan has plans to bring in hearing for seniors, dental, and vision under an expanded Medicare, which is a priority for Bernie Sanders.