Biden’s funding plan update

October 21, 2021
Biden's funding plan update

We have a goal. We have a timetable.

House Speaker Nancy Pelosi (D- CA) with a status update on the Democrats’ historic spending bill.
  • Despite having the majority in the House and the Senate, Democratic lawmakers have been unable to reach a consensus on a spending package that will allocate how taxpayer money will be spent.
  • The spending bill initially had a price tag of $6 trillion, later cut to $3 trillion. More changes came Wednesday evening as the White House and Democrats agreed to rework what will be included in the spending bill – now reduced to $2 trillion.
  • Adjustments are being made in three areas: climate change, social services, and tax cuts on wealthy/big corporations.
  • The spending bill has been on the table since this summer and has faced pushback from Republicans and Democrats, who both felt the price tag was too high.
  • Why It Matters: The Associated Press reports the slimmer spending bill currently taking shape "would represent the most substantial overhaul of the federal balance sheets in at least a generation." As the government decides how American taxpayer dollars will be spent with the now $2 trillion package, questions remain as to what exactly the final plan will entail.

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