A White House official, speaking on condition of anonymity, said President Biden “fully expects that Congress will meet its obligations as it did on a bipartisan basis three times during the Trump Administration and amend the debt limit law as needed.”
The package marks a significant departure from the roughly $2 trillion blueprint put forward by President Biden earlier this month.
The lawmakers signaled they may oppose any future increase to the debt ceiling unless Congress couples it with comparable federal spending cuts, raising the specter of a political showdown between GOP leaders and the White House this summer.
At a time when the White House is seeking a massive expansion in the role of government — and major boosts in spending to boot — congressional Democrats and Republicans alike have unleashed a torrent of lobbying to try to steer new federal dollars to their states and districts
The American Families Plan, the second part of the administration’s Build Back Better agenda, is expected to be unveiled ahead of President Biden’s address to a joint session of Congress on April 28.
Manufacturers complain of steel shortages and soaring prices, but there is still no consensus on path forward.
The president last week criticized large corporations paying $0 in taxes, but it's unclear if his proposals accomplish that goal.
The GOP alternative is expected to total less than half the White House’s plan, according to party lawmakers, who have eyed $600 billion as a potential price tag. Republicans also plan to narrow their efforts to include only traditional infrastructure, like roads and bridges, while jettisoning the tax increases that Biden has endorsed as a way to finance the package.
The new draft legislation put forward by Sens. Ron Wyden (Ore.) and Michael Bennet (Colo.) seeks to remedy the financial hardships that many families experienced over the past year, after the coronavirus left a record number of people out of work and struggling to obtain enough aid.
The political schisms seemed only to widen a day after Biden invited lawmakers from both parties to the White House, illustrating the significant obstacles the president faces if he hopes to craft a swift bipartisan deal to upgrade the country’s roads, bridges and water ways.
HUD submits rules to address systemic racism and housing discrimination.
The meeting in the Oval Office comes as Senate lawmakers return to Washington at odds over Biden’s infrastructure plan, threatening to spoil early hopes for a swift political compromise.
The U.S. spent $927 billion in March alone — more than double the level from March 2020.
The White House is facing diverging pressure from two powerful allies — House Speaker Nancy Pelosi (D-Calif.) and Senate Budget Committee Chairman Bernie Sanders (I-Vt.) — over whether to use an upcoming spending package to strengthen the Affordable Care Act or expand Medicare eligibility.
In a 60 Minutes interview, Jerome H. Powell said the pandemic still controls the fate of the recovery, and that many of the disparities that have worsened over the past year will take time to fully address.
President Biden on Friday asked Congress to authorize a massive $1.5 trillion federal spending plan in 2022, seeking to fulfill his campaign promises to invest heavily in education, improve public housing, combat the coronavirus pandemic and confront climate change.
White House wants more money for all the programs Trump had sought to slash.