Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Pelosi sets Thursday vote on infrastructure, eyes smaller social spending bill

Published 09/26/2021, 09:35 AM
Updated 09/27/2021, 06:05 AM
© Reuters. FILE PHOTO: U.S. House Speaker Nancy Pelosi (D-CA) holds her weekly news conference at the U.S. Capitol in Washington, U.S. September 8, 2021.  REUTERS/Jonathan Ernst/File Photo

By Humeyra Pamuk

WASHINGTON (Reuters) -U.S. House of Representatives Speaker Nancy Pelosi on Sunday set a vote on the $1 trillion bipartisan infrastructure bill for Thursday and voiced confidence it would pass.

Debate on the legislation, which passed the Senate with Democratic and Republican support on Aug. 10 and would help fund road, bridge, airport, school and other construction projects, will begin on Monday, she added.

Pelosi has not yet set a date to bring to the floor a larger, $3.5 trillion social welfare and climate bill - whose cost has divided her fellow Democrats - and said it is still under negotiation.

She added it was "self-evident" that the larger spending bill might shrink in size.

"We are now working together with the Senate and the White House on changes to this historic legislation," she added.

Both measures are key to Democratic President Joe Biden's economic agenda.

"Tomorrow, September 27, we will begin debate on the Bipartisan Infrastructure Framework on the Floor of the House and vote on it on Thursday, September 30, the day on which the surface transportation authorization expires," Pelosi said in a letter to Democrats that was released by her office.

Earlier on Sunday, Pelosi said she would not bring the infrastructure bill to a vote until she was sure it would pass, but expressed confidence about its prospects.

"Let me just say that we're going to pass the bill this week," she told ABC News' "This Week" anchor George Stephanopoulos.

Asked at the White House on Sunday whether Pelosi had the votes she needed, Biden said: "I'm optimistic about this week. It's going to take the better part of the week, I think," he told reporters.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

HIGH-STAKES WEEK

Democrats have so far failed to reach consensus on the timing of the two measures.

Some progressive lawmakers insist the $1 trillion infrastructure bill be held back until the bigger measure is ready. Moderates want the infrastructure bill enacted whatever the progress on the larger package, which includes provisions for expanding healthcare for children and the elderly and for investing in steps to drastically reduce emissions blamed on climate change.

Pelosi did not specifically address how the divisions within the Democratic Party would be bridged, but said the final figure for the larger measure would be lower than $3.5 trillion.

"That was the number that was sent to us by the Senate and by the president. Obviously with negotiation, there has to be some changes in that the sooner the better, so that we can build our consensus to go forward," she said.

The House Budget Committee advanced the larger bill on Saturday, reporting the legislation with a favorable recommendation.

Pelosi was speaking at the start of a high-stakes week for both parties in Washington. Congress is fast approaching a Thursday deadline to continue funding federal agencies or face the second partial government shutdown in three years.

"We have to make sure we keep the government open and we will," Pelosi said.

In late October or early November, the U.S. Treasury will run out of money to pay its obligations, meaning the government faces the risk of a historic default if Congress does not act.

The Senate will hold a procedural vote on Monday evening on legislation that has already passed the House to fund the U.S. government through Dec. 3 and suspend the nation's borrowing limit until the end of 2022.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Republicans say they oppose the bill because it includes a suspension of the debt limit, and while they oppose allowing the U.S. government to default, they want Democrats to suspend the debt limit without their votes.

Pelosi accused Republicans of being irresponsible and said the failure to extend the debt ceiling could have a wider impact on the U.S. economy. "This is beyond a big deal," she said.

Latest comments

Her extreme lefty members wants to pass the 3.5T first. If she brings 1T to the floor, she has enough votes (some Gop will join her to make up the loss from the left) but she desnt want to do it because she is a lefty.
WASHINGTON (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi expressed confidence on Sunday that the $1 trillion infrastructure bill will pass this week but sounded more doubtful about bringing it to the House floor on Monday as she previously pledged to do.
have you heard about bitcoin mining company
long gold :)
What is needed: Universal Broadband (only) :$48 Billion .
you can invest your money in bitcoin investment company legit
Print! Print! Print! Who cares about inflation.
It appears that conventional wisdom in Congress is now that debt doesn't matter..why ? There have no consequences..so far. MMT is coming soon.
No is a lie! The dems keeps playing around this 1 Trillion for months now! Is just a way to apply more interest rate...
If it is a lie, you need to supply proof...
 An unsubstantiated lie.  :-)
The USA is a bankrupt nation as soon as bond yields rise
Wrong... the more debt, the more it gets shaky... once debt consumes everything, then the dollar will collapse as no one wants it anymore... that will be the end...
 The USA is burning through debt and printing money as fast as it can - sooner or later the domino will collapse. Since 2000, US GDP has gone from 10.25 Trillion to 21 Trillion while the national debt has gone from 5 Trillion to 29+ TRILLION (by the end of the year). Simple maths - US debt has grown by almost 300% more than the economy over the past 20 years and yet the solution seems to be to pile more debt on top of more debt...if anything the only thing keeping the US up is the power of the US Dollar as the global world currency.
 That was the thought of world powers thought-out history whether it be the Romans, Greeks, Spanish, French, British Empire, the Japanese 'Lost Decades' etc. They all built up huge debts and relied on their currencies and political clout to manipulate the market. Sooner or later the debts became too much / they hit a recession with so much debt on their backs that they couldn't dig themselves out of the hole they got themselves into. The USA is piling debt on top of debt and still lending recklessly....maybe not next year...maybe not in the next decade...but sooner or later you can be 100% assured that the debt pile will come back to haunt the US.
Uncle Sam says, put it on my tab
Bravo, proud of creating more debt huh???
Will they double the deficit like Trump did?
actually that was rollover from Obama. the debt actually slowed down under trump. biben added 5 trillion in debt and it hasn't been a full year.
ya they need to do something to artificially grow gdp fast- bidens tanking
Peloci is working hard to move wealth from hardworking Americans to lazy asses and herself.
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.