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Deal on $2T Biden package, seems close but elusive – Las Vegas, Nevada

Las Vegas, Nevada 2021-10-23 03:07:00 –

J. Scott Applewhite / AP

In this October 1, 2021 photo, President Joe Biden and Speaker of the House Nancy Pelosi, D-Caliph, are walking down the Underground Corridor of the Houses of Parliament after meeting Democrats at Capitol Hill in Washington. Divided Democrats struggling to set President Joe Biden’s national agenda face one of Congress’s cruelest challenges. Your goal may be popular, but it does not guarantee that they will become law or that voters will reward you.

Washington — Within the agreement, President Joe Biden and top Democrats in Congress worked to reduce the bill and decide how to pay it, which seemed to delay the informal deadline, but they Approached the seal of a huge domestic bill.

Negotiations are expected to continue until the weekend, and a radical package of social welfare and climate change strategies shows that only a few issues remain unresolved.

Biden met with Speaker of the House Nancy Pelosi at the White House on Friday, and Speaker of the House Chuck Schumer attended a video call from New York in an attempt to reinforce the details. Leaders, in collaboration with the party’s moderates and progressives, have reduced the former $ 3.5 trillion, 10-year package to about $ 2 trillion in childcare, healthcare and clean energy programs.

Pelosi said the deal was “very possible.”

She told reporters who returned to the Capitol that more than 90% of the packages had been agreed. The climate change component of the bill has been “solved,” but unresolved questions remain regarding health care delivery.

Vice President Kamala Harris sounded even more certain. When she visited New York City, she said she was often nervous about the final details, but “I’m frankly optimistic, but I’m sure we’ll reach an agreement.” Said.

By Friday’s voluntary deadline, no agreement was announced to agree on at least a basic overview. Biden wants to trade before leaving for the World Summit in Europe next week.

Pelosi wanted the House of Representatives to start voting soon next week, but no schedule was set.

The focus seems to include the proposed corporate tax hike to help fund the plan and efforts to lower the cost of prescription drugs that are causing concern from the pharmaceutical industry.Democrats seek a broad compromise between the party’s progressives and moderates Major price tags, sources of income, and basic components..

At the White House, the president “rolls up his sleeves and is deeply involved in spreadsheets and number details,” spokesman Jen Psaki said.

Biden was supposed to spend the weekend at his home in Wilmington, Delaware.

Psaki compared this work with starting social security and other major federal programs decades ago and building on them in the years that follow.

“Progress here is a historic package that introduces systems and programs that never existed in our society,” she said, expanding childcare and providing free kindergartens to all young people. Mentioned efforts.

Negotiations are underway as Biden more strongly appeals to the American people for middle-class values, including the city hall, which was televised. The heart of his proposal..

In the Senate, which is evenly divided between the Democrats and the Republicans, who strongly oppose it, Biden cannot afford to lose a vote. He is navigating factions in his party — progressives who want a large investment in social welfare and centrists who prefer lower overall price tags.

“When you are president of the United States, you have 50 Democrats — everyone is president. Each one. So you have to settle things,” he said at CNN Town Hall on Thursday. Said.

Still, he was optimistic about the process. “Compromise is everything. Compromise has become a dirty word, but transpartisanness and compromise must still be possible,” he said.

On one issue: the tax paid on the package, the White House’s idea seemed to be moving forward with a new strategy of abandoning the plan. Reverse tax cuts in the Trump era We support an approach that includes imposing a minimum corporate tax of 15% and taxing the investment income of millionaires to help finance transactions.

Biden faces resistance, especially from major holdouts Senator Kyrsten Cinema, Arizona, He has not participated in the party’s plan to cancel tax cuts for large corporations and individuals with an annual income of more than $ 400,000 by President Donald Trump.

The president was unusually close to the difficulty of negotiating with Cinema and West Virginia conservative Senator Joe Manchin on Thursday night.

The president said he opposed Cinema’s raising a “money tax” on wealthy people and businesses, but White House officials later said the president would “range the tax bills supported by Senator Cinema.” Instead, it refers to raising the maximum tax rate. ” .. “

If so, it may unlock an important part of the transaction. With a better understanding of available income, Democrats can create top-line spending on packages and adjust the duration and totals of different programs accordingly.

Mr Biden said Manchin did not want to “rush” the move to clean energy as soon as possible, leading to major unemployment in coal-producing countries.

Still, Biden acknowledged a significant reduction in his original vision.

He has a final plan We no longer offer free community colleges, But he said he wanted to increase Pell Grant to make up for the loss of policy.

He also said that the federal government would pay only four weeks for a multi-month family vacation program.

Another work in progress — ideas Expand Medicare to include dental, visual and hearing aid benefits For the elderly, it is a priority for Senator Bernie Sanders, who is independent of Vermont.

Biden said he liked the idea, but Manchin and Cinema disagree, so the proposal is “reach.”

Instead, Democrats said they were considering offering the elderly a $ 800 voucher to access dental care and another program of hearing aids that Cinema might support. However, according to Biden, the vision care component is difficult to resolve and no consensus has yet been reached.

Overall, Biden and his party are trying to support middle-class households, tackle climate change, and get the wealthiest Americans and businesses to pay what he calls their “fair share” for the country. increase.

The mix includes at least $ 500 billion in clean energy tax credits and other efforts to combat climate change, $ 350 billion in child care subsidies and free kindergartens, and 300 per month during the COVID-19 crisis. Includes an extension of the dollar child tax credit. Money for health care offered through affordable care methods.

However, the newly proposed tax system has ranked Democrats who have long campaigned to abolish Republican-backed tax cuts. Many are furious that perhaps one senator could interfere with that goal.

Under fluctuating changes, the 21% corporate tax rate remains unchanged, as is the maximum personal tax rate of 39.6% for those who earn $ 400,000, or $ 450,000 for couples.

But the White House is reviving the idea of ​​a minimum tax rate for companies that hit even those that say they don’t have taxable income. This is Biden’s frequent target of complaining about taxes as “zero.”

The new tax on the wealthiest individuals will be modeled on legislation from Senator Ron Wyden (D-Ore.), Chairman of the Senate Finance Committee. He proposed that Americans tax the acquisition of shares of less than 1,000 people with assets in excess of $ 1 billion.

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