Don’t miss the latest developments in business and finance.

Senate Democrats pass $3.5-trillion budget blueprint: Report

Lawmakers approved Democrats' budget resolution on a party-line 50-49 vote

White House
The party-line 50-49 vote marks an abrupt reversal from the tax-cutting philosophy of Republicans when they controlled the govt
AP | PTI
1 min read Last Updated : Aug 12 2021 | 1:51 AM IST
Democrats pushed a $3.5 trillion framework for bolstering family services, health, and environment programs through the Senate early Wednesday, advancing President Joe Biden’s expansive vision for reshaping federal priorities just hours after handing him a companion triumph on a hefty infrastructure package.

Lawmakers approved Democrats’ budget resolution on a party-line 50-49 vote, a crucial step for a president and party set on training the government’s fiscal might on assisting families, creating jobs and fighting climate change. 

Higher taxes on the wealthy and corporations would pay for much of it. Passage came despite an avalanche of Republican amendments intended to make their rivals pay a price in next year’s elections for control of Congress. House leaders announced their chamber will return from summer recess in two weeks to vote on the fiscal blueprint, which contemplates disbursing the $3.5 trillion over the next decade. 
  • The budget blueprint’s passage is the first step in an arduous process designed to allow Democrats to push through a sweeping package of education, healthcare, climate and other provisions
  • The party-line 50-49 vote marks an abrupt reversal from the tax-cutting philosophy of Republicans when they controlled the govt

Topics :Joe BidenUnited StatesUS Senate

Next Story