Democrats are selling Biden’s Economic Agenda Only to Avoid Upcoming Economic Catastrophe
Two weeks ago, the House passed President Joe Biden’s Build Back Better bill, however, it can still be turned over. Now, the House Democrats are rushing to keep it afloat to avoid upcoming economic distress.
After a Thanksgiving break, the House is back in session to discuss the complexities of the bill.
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“As you know, the legislative agenda for the remainder of 2021 is considerable,” Senate Majority Leader Chuck Schumer told lawmakers in a letter before Thanksgiving.
“I am confident we can get each of these important items done this year, but it will likely take some long nights and weekends,” he added.
Treasury Secretary Janet Yellen said that after December 15, she is not confident the Treasury will have the resources to fund the government and stressed the need for the matter to be addressed in a bipartisan way.
Democrats like Minnesota Sen. Amy Klobuchar agree. “You know, if the Republicans want to scrooge out on us, and increase people’s interest rates and make it hard to make car payments — go ahead, make that case,” Klobuchar told ABC News. “We’re going to stop them from doing that.”
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Sen. Bernie Sanders would like to see the bill “strengthened.” After the House passed the bill, he called for the inclusion of lower prescription drug prices, increased taxes on the wealthy, and more robust climate reform.
Biden previously said he would like to sign this bill into law “as soon as possible.”
The Build Back Better Act is a bill introduced in the 117th Congress to fulfill aspects of President Joe Biden ‘s Build Back Better Plan.
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It was spun off from the American Jobs Plan, alongside the Infrastructure Investment and Jobs Act, as a $3.5 trillion reconciliation package that included provisions related to climate change and social policy.
The Build Back Better Agenda is an ambitious plan to create jobs, cut taxes, and lower costs for working families – all paid for by making the tax code fairer and making the wealthiest and large corporations pay their fair share.
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