President Joe Biden says he has struck a deal with the most conservative members of the Senate to move forward with a $1.75 trillion spending and tax bill — a legislative package meant to reflect the biggest pillars of his agenda.
When Biden says he wants to Build Back Better, this is the bill he’s talking about.
But what the White House is now proposing isn’t what Biden wanted. Over the course of the last month, the White House whittled down its dreams of a $3.5 trillion spending bill over 10 years to appease two key Democratic votes: Sens. Joe Manchin (W.Va.) and Kyrsten Sinema (Ariz.).
What they’ve come up with is about half the size of what the majority of congressional Democratic lawmakers had hoped for. That meant leaving out a lot of key ― and extremely popular — proposals, like instituting the nation’s first paid family and medical leave program, or lowering pharmaceutical drug prices.
That said, there’s still a lot of policy packed into this proposal. The proposal’s biggest investments are in climate policies ($555 billion), child care and universal pre-kindergarten ($400 billion) and a temporary extension of the expanded child tax credit ($200 billion), which has already gone a long way toward cutting down child poverty in the United States. It increases taxes on the wealthy and corporations.
Biden spent Thursday morning on Capitol Hill trying to convince Democrats to support this compromise. But nothing is for certain; a lot of lawmakers saw their policy priorities cut down, or even cut out all together, because of Manchin and Sinema.