Biden lowers spending bill target to between $1.75T and $1.9T

Biden lowers spending bill target to between $1.75T and $1.9T<br /><br />President Biden has privately informed Democratic lawmakers he is optimistic they can reach an agreement on a social spending plan capped at about $1.9 trillion, a spending target that would mark a significant reduction from the vast economic overhaul he initially envisioned, according to a report.<br /><br />Biden detailed a potential deal for a spending proposal of between $1.75 trillion and $1.9 trillion during a private meeting, the Washington Post reported, citing sources familiar with the matter. The president was said to have shared the outline with at least some Democratic lawmakers.<br /><br />The revised package includes many of the original plan’s signature proposals, including universal pre-K, substantial investment in green energy, and expanded Medicare benefits. However, the sources told Washington Post the details were still subject to change.<br /><br />The Post reported the downsized spending plan could cut or reduce several programs favored by progressive leaders, including less money than they wanted for affordable public housing, a child tax credit extension of just one year, and reduced paid leave.<br /><br />The latest spending benchmark indicates Biden and other Democratic leaders have made significant cuts to their vast spending plan to achieve a compromise that satisfies both moderate and progressive Democratic lawmakers.<br /><br />Democratic leaders have set an Oct. 31 deadline to reach an agreement on the spending plan and a separate $1.2 trillion bipartisan infrastructure deal.<br /><br /><a href="https://www.spreaker.com/user/9922149/biden-lowers-spending-bill-target-to-bet" rel="noopener">https://www.spreaker.com/user/9922149/biden-lowers-spending-bill-target-to-bet</a><br /><br />#GoRightNews with Peter Boykin<br />GoRightNews.com