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Biden discusses $1.75 trillion social spending framework


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The speech will be delivered by President Joe Biden detailing the newly unveiled framework for his $1.75 trillion climate and social spending plan What are the next steps in legislative proceedings? aims to shore up Democratic support for the bill

Biden visited Capitol Hill on Thursday earlier. to pitch Democrats on the outlines of the billThe $555 billion allocated to climate initiatives is offset by almost $2 trillion of corporate tax increases and other reforms. He also asked House progressives for support. $1 trillion infrastructure bill that the Senate passed months earlier

These two bills are the heart of the Biden administration’s economic agenda. Democratic leaders hope they can be passed in tandem. Sens opposition has led to some of the most important provisions being weakened or eliminated from the plan. The bill would not be passed without the votes of Joe Manchin or Kyrsten Sinema.

Biden will speak in the East Room just prior to his overseas trip to Europe. He will be meeting with Pope Francis, other leaders from around the world to discuss topics ranging across the globe and climate change.

To meet with Democrats at Capitol Hill regarding the legislative framework, Biden delayed his departure for several hours. Biden was about to leave, but Democratic leaders did not give any assurances of a quick deal and the draft of his legislative text had still not been revealed.

Biden, D-Calif. said that it was a “good day” as he made his way through Capitol Hill along with Nancy Pelosi, D.Calif.

Biden, I-Vt. was asked whether Bernie Sanders, a progressive senator, would endorse the plan. He laughed and said, “Everybody’s aboard.” Aren’t we all onboard?

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.