President Joe Biden’s top economic adviser is expressing confidence that the White House’s $1.85 trillion domestic policy package will be passed quickly in the House this week.
“Inflation is just too high. And it is affecting consumers in their pocketbooks and also in their approach to the economy,” said Brian Dees, director of the National Economic Council.
“This, more than anything, will go to the costs that Americans face,” he said, before adding that the House will consider legislation this coming week. “It will get the vote, it will pass.”
The House is moving toward approval of a largely Democrat-backed bill, even though the measure faces major challenges in the Senate, where censors Joe Manchin, DWA, and Kirsten Cinemas, D-Ariz., have insisted. reducing its size.
In a letter Sunday to Democratic aides, Majority Leader Chuck Schumer, D.Y., advised “time and patience” to work through a bill of this size.
Consumer prices rose 6.2% over the previous year, the biggest 12-month jump since 1990. Dees acknowledged that prices may not fully return to the normal 2% level until next year due to the lingering effects of COVID-19, but he said the measure is going to “reduce costs for American households”. I will go a long way.
He said, “We are confident that this bill, as it moves through the process, is being paid for in full, and not only that, it is actually going to reduce the deficit in the long term. ,” They said.
Biden plans to sign a related $1 trillion infrastructure bill on Monday, a bipartisan effort that was passed earlier this month after President and House Speaker Nancy Pelosi, D-Calif., criticized Biden’s comprehensive health package. , Child, Elder care and detail action was promised. Climate change by mid-November
The House Progressives had threatened to stall the infrastructure bill without a firm commitment to immediate action on the comprehensive package.
House centrists say they will vote for the package earlier this week if an upcoming Congressional Budget Office analysis confirms the White House’s estimate that the bill has been paid in full. The measure would be covered with changes to corporate taxes, such as a new corporate minimum tax, while increasing taxes on those with higher incomes.
On Friday, Pelosi wrote to Democratic members confirming her plan to move forward soon, noting that CBO estimates released so far on plan pieces are in line with White House projections.
“We’re on track to come out stronger with numbers from the Congressional Budget Office,” she said.
Rape. Fred Upton, R-Mich., one of 13 House Republicans who voted for the infrastructure bill, said he does not believe the comprehensive package will get House approval this week.
“I don’t think the votes are there yet,” he said. “A good number of Democrats did demand and are going to get a CBO report on whether it’s actually paid for? What does it do when you expand Medicare? What does it do for solvency. ?”
“Either way, I don’t think we’ll get these answers … to determine the vote for Pelosi before the end of the week.”
The bill is expected to face change in the Senate. With Republican opposition and an evenly divided 50-50 Senate, Biden has no votes left.
Manchin in particular has been vocal about the risk of escalating budget shortfalls and has already managed to bring the bill down from Biden’s original $3.5 trillion price tag. Last week, Munchkin again sounded the alarm over the “threat posed by record inflation.”
Dees appeared on CNN’s “State of the Union” and ABC’s “This Week,” and Upton spoke on CNN.