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The White House unveils a budget framework agreement of $1.75 trillion

The White House Democratic lawmakers reached a deal on the broad strokes of their multi-trillion-dollar budget reconciliation bill on Thursday, ending months of infighting within the Democratic caucus.

A deal has been arranged to reduce the bill's top-line price from $3.5 trillion to $1.75 trillion in order to appease Sens Joe Manchin (D-W. Va.) and Kyrsten Sinema (D-Ariz.).

To the frustration of progressive Democrats, Manchin and Sinema have long stalled the measure, citing reservations about the bill's cost and the possibility for unexpected consequences.

The deal includes $400 billion for child care and preschool programs, $150 billion for home health care, $200 billion for child and earned income tax credits and $555 billion for "clean climate and energy initiatives." $130 billion for President Barack Obama's Affordable Care Act (Obamacare), $35 billion for Health care hearing benefits, $150 billion for residential initiatives, $40 billion for higher education and employment development programs, $100 billion for immigration, and $90 billion for "shares as well as other investment opportunities."

“After hearing input from all sides and negotiating in good faith with Senators Manchin and Sinema, Congressional Leadership, and a broad swath of Members of Congress, President Biden is announcing a framework for the Build Back Better Act,” announced President Joe Biden in an online press release.

28 Oct 2021


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