Biden’s Economic Agenda Gains Ground as Senate Democrats Support $3.5T Blueprint

Source: Bloomberg

Senate Democrats have passed a $3.5-trillion budget blueprint that would pave the way for the economic agenda pushed by President Joe Biden.

• The measure recorded a 50-49 vote, with Democrats controlling the Senate.
• The proposal includes provisions for universal pre-K for children aged three and four, paid family leave, and two years of tuition-free community college.
• It also includes benefits for Medicare beneficiaries involving dental, vision, and hearing.
• The bill pushes for measures to fight climate change, such as fees on imports for products’ greenhouse gas emissions and incentives for electricity suppliers.
• Senate Budget Chairman Bernie Sanders said the measure will restore the faith of the American people that the government works for all.
• The measure will face hurdles as details should secure support from all 50 Democrats, but Senators Joe Manchin and Kyrsten Sinema have expressed concerns.