Senate Democrats released a budget that marks their first step toward bypassing the filibuster to pass a $3.5 trillion package of social welfare initiatives like expanded Medicare, free community college and green cards for some immigrants
Senate Democrats released a $3.5 trillion budget on Monday morning that doesn't tackle the imminent need to raise the debt ceiling, setting the stage for a dramatic standoff with Republicans this fall.
The budget also marks Democrats’ first step toward bypassing the filibuster in order to pass their party's massive social spending plan, which envisions higher taxes on corporations and the wealth in order to fund initiatives like expanded Medicare, free community college and green cards for some immigrants. The framework instructs a slew of committees to draft their pieces of Biden’s spending package by Sept.
Omitting the debt limit from the budget measure is expected to ease action on that multitrillion-dollar plan, as well as thethat's on track for Senate passage Monday or early Tuesday. But that calculated decision to procrastinate, as the Biden administration counts down toward a national default on U.S. debt, will make life substantially worse for Democrats this fall as they scramble for the votes to avert the cliff in time.
In a statement on Monday morning, Treasury Secretary Janet Yellen offered Democrats some cover for not pursuing the debt ceiling hike through reconciliation, stressing that Congress should tackle the issue “on a bipartisan basis.”
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