Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

U.S. House advances Biden's multi-trillion-dollar domestic agenda

Published 08/24/2021, 10:44 AM
Updated 08/24/2021, 04:47 PM
© Reuters. U.S. House Speaker Nancy Pelosi (D-CA) arrives for a House Democratic caucus meeting amidst ongoing negotiations over budget and infrastructure legislation at the U.S. Capitol in Washington, U.S. August 24, 2021.  REUTERS/Jonathan Ernst

By David Morgan and Susan Cornwell

WASHINGTON (Reuters) -The Democratic-controlled U.S. House of Representatives voted on Tuesday to advance key parts of President Joe Biden's agenda, after moderates and progressives reached a compromise allowing them to move forward on the multitrillion-dollar plans.

In a party-line 220-212 vote, it approved a $3.5 trillion budget framework to advance progressives' ambitious plans to expand child care and other social programs, and agreed to vote by Sept. 27 on a $1 trillion Senate-passed infrastructure bill that is a top priority for moderate Democrats.

House Speaker Nancy Pelosi also said her chamber would work with the Senate to nail down the details of the larger $3.5 trillion budget.

Biden's fellow Democrats have little room for error as they try to approve the two massive spending initiatives in the House and Senate, where the party holds razor-thin majorities.

"Passing an infrastructure bill is always exciting for what it means in terms of jobs and commerce in our country," Pelosi said. "Now more than ever, it also has to be a part of protecting our environment."

Pelosi had hoped to quickly approve the $3.5 trillion budget outline https://www.reuters.com/world/us/paid-leave-clean-energy-preschool-democrats-35-trln-plan-2021-08-09, which would enable lawmakers to begin filling in the details on the sweeping package that would boost spending on child care, education and other social programs and raise taxes on the wealthy and corporations.

But centrist Democrats, led by Representative Josh Gottheimer, had refused to go along, saying the House must first pass the infrastructure bill https://www.reuters.com/world/us/whats-us-senates-bipartisan-1-trillion-infrastructure-bill-2021-08-03, which has already won approval by Republicans and Democrats in the Senate.

Liberals, including Representative Alexandria Ocasio-Cortez, have said they will not support the smaller package without the larger one, fearing they will lose leverage.

"These negotiations are never easy," said House Rules Committee Chairman Jim McGovern.

Pelosi said the House would work with the Senate on the details of the massive budget outline, which Senate Democrats plan to pass using a maneuver that gets around that chamber's normal rules requiring 60 of the 100 senators to agree to pass most legislation.

© Reuters. U.S. House Speaker Nancy Pelosi (D-CA) arrives for a House Democratic caucus meeting amidst ongoing negotiations over budget and infrastructure legislation at the U.S. Capitol in Washington, U.S. August 24, 2021.  REUTERS/Jonathan Ernst

House Republican leader Kevin McCarthy blasted Pelosi and other Democrats with bare-knuckle partisan rhetoric for working on an agreement to secure Biden’s domestic spending priorities and voting legislation without addressing the crisis in Afghanistan.

"Maybe in your caucus, you think it is a great day for you and the Democrats," McCarthy said. "It's an embarrassing day to America, it’s an embarrassing day for this floor and it's embarrassing that you would even move forward with it."

Latest comments

Sure lets spend more money we donot have. Treason takes many forms
sure does..called I surrection
Does the GOP do anything but complain? Still waiting for their healthcare solution. I remember the orange man saying it was going to be great....waiting....
we need to feed Nancy Pelosi and the entire Congress to the Taliban. They are *****the middle class who pays for the majority of this!
the comments here are pure idiocy
Snowflakes melting :D
My kids and my kids kids will pay for it for generation to come
Pelosi agenda is to transform the USA into totalitarian state communist dictatorship to benefit only her elite friends.
The US scrambling to catch up with Venezuela on quality of life.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.