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Economics

Democrats Release Budget Enabling Biden’s $3.5 Trillion Plan

  • Debt ceiling left out, risking a showdown in Congress
  • Budget plan would bypass Republican opposition in Senate
Updated on

Senate Democrats released the text of their budget resolution that sets up President Joe Biden’s $3.5 trillion economic agenda as well as a showdown with Republicans over the debt limit in September.

The budget blueprint is expected to be voted on this week in the Senate soon after final passage of Biden’s bipartisan $550 billion infrastructure package. It allows Democrats to bypass Republicans to expand the social safety net and address climate change, paid for by raising taxes on the wealthy and corporations.