White House holds more meetings with Democrats on budget

Democrats on Capitol Hill agreed Thursday to settle their differences over a multi-million dollar social network and climate package as President Biden and his team struggle to find a legislative way to implement their domestic policies. Talks with prominent lawmakers are planned for another day. event schedule

Democratic leaders claiming progress on the deal said they had agreed on a range of possible payment options. But he gave no indication of what programs would be included or what the total cost would be in the end, and what he referred to as the “framework” seemed simple.

Rep. Richard Neal, Chair of the Senate Finance Committee, Senator Ron Wyden of Oregon and Chair of House and House Committees, signed off on a rule that their respective committees have complied with: the highest income tax 39.6%. President Donald’s taxpayer rate grew before Trump cut it to 37% in 2017; Measures to facilitate the protection of tax privileges often used by the wealthy to reduce taxes on historic property; And closing a known loophole with the help of Peter Thiel, a billionaire from Silicon Valley, was able to save huge investment gains from taxation in individual retirement accounts.

They agreed that the plan should respond to Biden’s calls to increase taxes on corporations and capital gains, but not comply with the rates for this position, those familiar with the discussions and agreed with them on condition of anonymity. Yes. And they’re determined to try and find common ground for their other priorities, like Wyden’s proposal to tax billionaire profits.

The talks took place on the day when Mr , $ 5 trillion was concentrated. Democrats admit they need to slow down to qualify. .

Party leadership hopes to reach agreement on a social security law on Monday if a vote on infrastructure measures is planned. But a compromise on the total cost of the programs that will be included and implemented and their payments will be a painful decision for the divided group.

However, Democratic leaders predict that they will eventually give Biden the table with both moves.

“I think we’re both going to pass the law,” spokeswoman Nancy Pelosi told reporters during her weekly press conference at the Capitol.

Biden spent much of Wednesday meeting with Democratic leaders and nearly two dozen lawmakers, listening to the concerns of rival parties in his party about his two main domestic political priorities.

Moderates are pushing for swift action on the Senate’s bipartisan infrastructure bill, while progressives have vowed to vote for it unless broader social security measures are approved, including major new investments in climate, education. , Health. social program.

Biden asked moderates to suggest overall spending levels on the size of the package they could support and the priorities they would like to see funded, according to senators and aides. .

Democrats are trying to pass a party election law using an accelerated budget process known as reconciliation that avoids filibusters and allows it to be passed by a simple majority. allowed. But because of his low line of control on Capitol Hill, Biden needs the support of all Senate Democrats and could lose at least three in the House to win the plan.

But progressive lawmakers eager to see a reconciliation bill forced Biden on Wednesday to reconsider with House Democratic leaders against Monday’s vote on the infrastructure bill. Worried that their more conservative allies may refuse to support the larger plan once infrastructure measures are implemented, the Liberal Democrats have announced that they will abstain from the bill until a reconciliation plan is passed in Congress. do not agree.