Biden wants to make a deal before he leaves for global summits later in the afternoon. However, the new package is losing some of Democrats’ top priorities. This is because the president’s ambitions for his campaign are now overshadowed by the political realities of the narrowly divided Congress.
Senior administration officials spoke anonymously to say that the package no longer includes paid family leave or efforts to lower the price of prescription drugs.
There are still some options: Prekindergarten free for all children, expanded health programs (including the launch of a new $35 billion hearing aid benefit for seniors on Medicare) and $500 billion to combat climate change.
After months of negotiations, the White House finally crafted the package. It was the largest ever investment in climate change and the greatest improvement to the country’s healthcare system for more than a decade.
Biden’s proposal would pay for a 5% surtax on income above $10 million per year, an instituting a new 15% corporate tax minimum, rolling back Trump’s 2017 tax cuts and stepping up enforcement by the IRS of tax-dodgers, officials stated. He will continue to not add taxes to those who earn less than $400,000 per year.
Biden will speak from the White House regarding the package and the $1 trillion bipartisan infrastructure plan before leaving for the global summits later in the day.
The passage of the $1 trillion package of road, broadband, and other infrastructure projects has been stalled by Democrats’ disagreements over the major domestic policy bill. Biden will push for both bills to be sent over the “finish line”.
Biden is dependent on all Democrats to support him in the evenly divided Senate.
Despite several deadlines, Democrats were unable to reach a deal between themselves. Republicans are strongly opposed to the package. The Democrats might be able to reach a framework that would allow Biden to go overseas with a deal in place and open the door for the process while final details are being worked out.
Nancy Pelosi, House Speaker, announced that a Thursday committee hearing would be held to push the Biden package towards a full House vote. However, it was not clear when.
White House officials met with Sinema and Manchin at the Capitol to decide whether or not Biden can fulfill the Democrats’ key campaign promises.
The Sunday deadline was set for approval of a smaller bipartisan bill on roads and bridges infrastructure. Otherwise, funds for routine transportation programs could be at risk.
