Biden headed to Capitol Hill on Wednesday for sales pitch; Warner says plan is ‘fully paid for’
Top Senate Democrats and White House officials reached agreement late Tuesday on an overall spending target of $3.5 trillion for a filibuster-proof budget reconciliation package that Majority Leader Charles E. Schumer said will fund “every major program” President Joe Biden proposed in his economic plans.
Biden will come to the Capitol Wednesday to help Schumer and Budget Committee members pitch the spending target to the broader Senate Democratic Caucus over lunch. In a key selling point for his fellow centrists Democrats, Virginia Sen. Mark Warner told reporters the plan will be “fully paid for.”
The $3.5 trillion reconciliation bill, combined with $579 billion new spending in a bipartisan infrastructure bill that is still being drafted, will bring the total new spending on infrastructure, climate, child care, education and paid leave programs to $4.1 trillion. That figure “is very, very close to what President Biden asked us for,” Schumer said. “Every major program that President Biden has asked us for is funded in a robust way.” Continue reading.