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 suggests tying infrastructure plan and $3.5 trln budget resolution

Published 08/15/2021, 12:54 PM
Updated 08/15/2021, 10:50 PM
© Reuters. FILE PHOTO: The sun rises on the U.S. Capitol dome before Joe Biden's presidential inauguration in Washington, U.S., January 20, 2021. REUTERS/Jonathan Ernst/File Photo

WASHINGTON (Reuters) -U.S. House Speaker Nancy Pelosi told lawmakers Sunday that she had asked a House committee to advance both a $1 trillion infrastructure plan and a $3.5 trillion spending package together, an apparent effort to patch up divisions that had threatened to stall President Joe Biden's legislative priorities.

The U.S. Senate approved both the infrastructure legislation and the outline of a separate plan loaded with investments in new domestic programs. But the combined price tag of the two measures created fissures between the progressive and moderate wings of the Democratic Party, which controls both chambers of Congress by narrow margins.

Nine moderate Democrats said last week that they would not support the $3.5 trillion budget resolution until the infrastructure bill, which cleared the Senate with bipartisan support, becomes law. Progressive (NYSE:PGR) lawmakers had said the spending plan must go first, though it likely will not be complete until fall. Either faction could stall both packages.

Pelosi on Sunday suggested tying the two together in a letter to House Democrats, writing that "I have requested that the Rules Committee explore the possibility of a rule that advances both the budget resolution and the bipartisan infrastructure package."

The nine moderate lawmakers said in a joint statement late Sunday in response to Pelosi's statement "our view remains consistent. We should vote first on the Bipartisan Infrastructure Framework without delay and then move to immediate consideration of the budget."

The House is due to take up the budget resolution when it returns from summer break on Aug. 23. Approving it would clear the way for lawmakers to pass legislation that will fund top priorities ranging from climate change to universal preschool using a process called reconciliation that would forestall a Republican filibuster.

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

Pelosi's letter said her approach "will put us on a path to advance the infrastructure bill and the reconciliation bill."

Latest comments

Trumps cuts actually makes us more competitive and attracts companies and jobs. Giving money to the ever growing feds has never been a solution. Debt is just another form of slavery. People should think in terms of making government more efficient, reducing its size and asking questions such as why is our defense spending more than Europe and China combined? Maybe it would be better served in education and health. Unfortunately both sides are spending the taxpayers money like a drunken sailor. In God We Trust.
pelosi is an evil b.
Undo trumps tax cuts would pay for the infrastructure bills with a $ trillion to spare.
People like Pelosi make civil war a reality.
ok coward you first
Let spend some more of taxpayer money for generations to come. Highly doubt my credit card company would endorse such a plan..lol
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.