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Schumer, Pelosi announce revenue deal for Biden’s social agenda By Reuters

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© Reuters. FILE PHOTO. Nancy Pelosi (D.CA), Speaker of Congress, and Chuck Schumer, U.S. Senate Minority Leader, attend a news conference in Washington with mother-beneficiaries from Child Tax Credit, on July 20, 2021. REUTERS/Elizabeth Frantz

WASHINGTON (Reuters) -The two top Democrats in the U.S. Congress announced a revenue deal on Thursday that they said would pay for President Joe Biden’s social spending agenda, marking a major step forward in their effort to enact sweeping legislation.

The White House, Senate and House have agreed on a framework to pay for any final agreement. “So the revenue side, we have an arrangement on,” said Chuck Schumer, Senate Majority Leader at a press confer.

“We are writing legislation, and when you’re writing legislation, you have to be specific. This took us quite a while to get to a structure,” House of Representatives Speaker Nancy Pelosi stated.

We will get additional estimates about how much money goes in to certain areas. She said that she was confident that they can meet the President’s proposals.

As the White House, Senate and Democrats try to reach an agreement between moderates & progressives on Biden’s proposed $3.5 billion social spending agenda, the White House and Democrats of both House and Senate make the announcement. Democrats are hoping to pass the bill without Republican support through the parlamentary process called budget reconciliation.

The Democratic-controlled House is also due to take up as early as Monday a Senate-passed $1 trillion bipartisan infrastructure bill, which has also become a political football between moderates and progressives.

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