An epic week in is underway. The outcome remains uncertain, and American finances and prosperity are in the balance.
President Biden, Speaker Pelosi, and Majority Leader Chuck Schumer all Democrats are up to their necks in alligators and deep into negotiations over the president's proposal, with a $3.5 trillion price tag with tax increases on corporations and the wealthy paying for it. The phrase up to their neck in alligators is hard to forget that the initial objective was to drain the swamp.
The anticipated vote on the companion $1 trillion public works measure has been postponed. The two bills are related, but centrists and progressive factions are at odds at prioritizing one ahead of the other. Nancy Pelosi announced the Thursday vote in a letter to colleagues, noting it's also a deadline for related transportation programs in the infrastructure bill.
The difficulties lie in the US Senate, as Democrats are under pressure to obtain enough votes for President Biden's big package. It would provide an expansion of existing health education and child care programs for all Americans young and old, alongside new federal efforts to curb global climate change. https://www.nytimes.com/live/2021/09/27/us/politics-news#house-democrat…
Republicans are totally opposed to the POTUS proposal, which would be paid for by increasing the corporate tax rate, from 21 to 26.5 percent on businesses earning more than $5 million a year, and raising the top rate on individuals from 37 to 39.6 percent for those earning more than $400,000 a year, or $450,000 for USA couples. President Joe Biden has literally learned throughout his life how to apply the political skills he needs this week.