Five Things You Need to Know to Start Your Day
Biden’s twin win, Fed taper gets closer and another big day for earnings.
President Joe Biden’s economic agenda got a shot in the arm on Wednesday as the Senate voted to start work on the $550 billion infrastructure bill and Democrats put their weight behind a broader budget resolution. The 67-32 procedural vote in the Senate is good indication the infrastructure package may pass the chamber by early next week, with cryptocurrency taxes one possible source of funding. A potentially rockier path awaits the budget resolution, aimed at priorities such as climate change, the tax code, health care and immigration. Senate Budget Committee Chairman Bernie Sanders said he has the votes, but Arizona Democrat Kyrsten Sinema complicated matters by saying she wouldn’t support spending $3.5 trillion on the package.