Biden unveils new spending plan, some Dems push back
"Today, I’m pleased to announce after months of tough and thoughtful negotiations, I think we have, I know we have a historic economic framework. It’s a framework that will create millions of jobs, grow the economy, invest in our nation…”
U.S. President Joe Biden on Thursday unveiled a $1.75 trillion economic and climate change plan that he said unified Democrats, but it was immediately rebuffed by members of his own party.
The plan includes $555 billion in spending for climate initiatives:
“…and enough to position us for a 50-52% emission reduction by the year 2030…”
The plan also includes six years of preschool funding and a minimum tax on companies with over $1 billion in profits.
“A minimum tax of 15%”
But the framework does not include a tax on billionaires or paid family leave, which Democrats had struggled to keep in.
According to a source, Biden on Thursday pleaded with House Democrats for their support, telling reporters on Capitol Hill:
“I think we’re going to be in good shape.”
A rift between progressive and moderate Democrats has threatened progress on Biden's agenda, including a $1 trillion infrastructure bill.
Progressives have said they wouldn't vote for the infrastructure bill - despite a push from House Speaker Nancy Pelosi to do so on Thursday - without a deal on the social spending bill, once targeted at $3.5 trillion.
Key progressive Democrats poured cold water on the idea.
Senator Bernie Sanders said: "The House should not be voting for an infrastructure bill unless they see very clear language and know that there are 50 senators on board.”
Leader of the Congressional Progressive Caucus, Pramila Jayapal also said she wants to see more:
“My understanding is the framework is very general so let’s turn it into legislative text.”
Biden had hoped to reach an agreement before attending a G20 meeting in Rome.
Still, the White House has signaled optimism, saying the spending plan does have the support of all 50 Democrats in the evenly-divided Senate and it is confident the bill can also pass the House.
