US Senate Passed the $3.5T Plan, Debates on Biden’s Agenda

On Tuesday, August 10, the US Senate passed the $3.5 trillion budget plan and proceeded to debate President Joe Biden’s key priorities.  His key agenda focuses on climate change, universal preschool, and affordable housing.

Meanwhile, the 100-member chamber approved the $1 trillion infrastructure bill in a 69 to 30 vote. It could provide the United States’ largest investment for the past decades in roads, bridges, airports, and waterways.

In the Senate, Democrats turned to a budget resolution that has spending instructions for the budget plan’s follow-up package.

Additionally, they are planning to push the package in the next preceding months using the budget reconciliation process. It will bypass the normal rules of the chamber that requires 60 votes to pass most of the legislation.

In a statement, House of Representatives Speaker Nancy Pelosi reiterated that her chamber wouldn’t start the spending package or infrastructure bill until both are conveyed. It will require the Democratic leadership to confine its small majorities in Congress simultaneously to obtain the legislation for President Biden.

Republican Senator Lindsey Graham complained against the spending plan. She said it would push inflation, leading to higher taxes and energy costs. The senator added that it would open the country’s border to more illegal immigrants.

On Tuesday, the US Senate started to give senators a chance to propose amendments to the budget resolution. This debate is possible to run for days, except if party leaders will consent to a shorter time frame.

Democrat House Majority Leader Steny Hoyer stated that the House would come back from its summer break early on August 23 to examine the budget resolution. However, it will only proceed if the Senate passes it.

Republican Party Resist to Raise US Debt

On the other hand, Republican party senators attacked the Democrats’ spending plan. The former signed a pledge not to vote in raising the country’s borrowing capacity.

Currently, the statutory debt limit is at $28.5 trillion; if this fails to increase or is suspended, then the federal government could trigger a debt default.

This week, treasury secretary Janet Yellen urged Congress to push the debt ceiling higher in a bipartisan vote.

Last Tuesday, she also affirmed a follow-up spending package. She stated that the $1 trillion infrastructure bill should have a continuation.

Last week, the nonpartisan Congressional Budget Office said the $1.2 trillion plan would lift the federal budget deficit to $256 billion for 10 years. With this, some negotiators stated that the CBO undercounted the revenue that the bill would make. Therefore, they rejected the office’s assessment.