Monday, November 29

Biden Announces Agreement to Approve Historic Spending Package


Correspondent in Washington

Updated:

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Joe Biden is in a hurry to approve his great social and environmental spending project, and after arduous negotiations, this very Thursday, October 28, he appeared on Capitol Hill to make one last effort to unify his party and get a commitment that the opposing factions will unite in a vote without defections, because its meager majorities hardly allow any.

As the president later said in a speech at the White House: “Today I am pleased to announce that after months of tough and cautious negotiations, I believe we have, I know we have, a historic understanding.” “I want to thank my colleagues in Congress for their leadership. We spend hours and hours for months and months working on this. Nobody got everything they wanted Including me, but that’s the compromise. That is the consensus. And that’s what I promised on the campaign trail, “added Biden. His party has yet to vote together in both houses of the Capitol, something that remains to be seen.

In doing so, the president takes responsibility for this spending package, and his fate on Capitol Hill. It will undoubtedly be what your team will defend as one of his greatest legacies, a series of changes to the subsidy and social aid system, in addition to an aggressive agenda to reduce pollution. By-elections, in which the entire House of Representatives and a third of the Senate are renewed, take place in one year, and polls predict that Democrats lose at least a majority in the first.

It often happens – it happened with Donald Trump and Barack Obama – that when one party wins the White House, the other seizes power on Capitol Hill later.

After an intense tug of war, and meeting dozens of times with senators and deputies in the White House, the Capitol and even his private residence in Delaware, Biden has presented his latest proposal to Democrats: a spending package of 1.75 trillion dollars, or what is the same, 1.5 trillion euros. This is a considerable reduction from the $ 3.5 trillion the negotiation began with.

G20 Summit

The White House maintains that Biden can get that reduced version approved, which is accompanied by a different infrastructure plan that is priced at 1.2 trillion, and that has the support of a large group of Republicans. The president wants to have these unfinished business resolved before going to Italy to meet the Pope and participate in the G-20 summit this weekend.

In the end, the two centrist senators, Joe Manchin of West Virginia and Kyrsten Sinema of Arizona, put the others through the hoop with a investment cut in half. On the way there have been projects that are highly valued for the left, such as paid family leave or a program to reduce the price of medicines. Yes, in the package there are subsidies for day care centers and 555,000 million dollars to combat global warming.

The two centrist senators would resist their party’s left-wing plan to raise taxes. Finally they increase 5% for those who earn more than 10 million dollars a year. In addition, the minimum corporate tax is raised to 15%.

Passing these laws will require an exercise in legislative engineering. Democrats have a majority of eight votes out of a total of 435 in the House of Representatives. In the Senate, both parties have 50 votes, and the vice president, Kamala Harris, has the tiebreaker. Therefore, Biden cannot afford the defection of a single senator from his party, otherwise his plans fail. Hence the importance of the two conservative senators, who have focused all the attention on Washington in recent weeks.

The left captained by the senator Bernie Sanders He even presented a proposal of six billion dollars that he compared with the reforms of the so-called “New Deal”, the ambitious program of state interventionism to end the Great Depression. Precisely one of the first things that Biden did when he arrived at the White House was to place in the most prominent place of the Oval Office, above the fireplace, a portrait of Franklin D. Roosevelt, the president who devised and succeeded in passing that initiative.

In his speech, President Biden justified reducing his ambitions for the sake of consensus within his party: “For a long time I have said that compromise and consensus are the only way to do great things in democracy, important things for the country. . I know it’s hard. But this framework includes historic investments in our nation and our people. “

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