Senate Democrats just laid out their $3.5 trillion plan to hike taxes on the wealthy & begin

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fighting climate change - without any Republican votes

Senate Democrats introduced a $3.5 trillion budget blueprint on Monday that would raise taxes on the wealthiest Americans and large corporations in order to fund a massive expansion of the social safety net, fulfilling a key part of President Joe Biden's economic agenda.

The $3.5 trillion spending plan would expand Medicare so it covers dental, vision, and hearing. It would also set up a paid family and medical leave program, tuition-free community college, child allowance, and clean energy provisions to combat climate change.

It would also create a pathway to citizenship for some undocumented immigrants and would lower prescription drug prices. Democrats want to pay for the plan by increasing taxes on the wealthiest Americans and large firms, while avoiding any tax hikes for people earning under $400,000. The bill would be among the largest spending packages ever taken up by Congress.

"At its core, this legislation is about restoring the middle class in the 21st Century and giving more Americans the opportunity to get there," Senate Majority Leader Chuck Schumer said in a statement.

https://www.msn.com/en-us/news/politics/senate-democrats-just-laid-out-their-3-5-trillion-plan-to-hike-taxes-on-the-wealthy-and-begin-fighting-climate-change-without-any-republican-votes/ar-AAN755m

Biden’s reconciliation bill would be a very big deal

Democrats are moving ahead on what could be the most consequential piece of domestic policy legislation in decades, and the planned centerpiece of President Joe Biden’s first-term agenda.

This coming megabill doesn’t yet have a name. It hasn’t technically been written. But on Monday, Senate Democrats released their current plan for what to put in it — and, well, it’s a whole lot.

Low-income families would get what’s effectively a “child allowance” — money to help raise kids — for longer, via an expanded child tax credit. Seniors on Medicare would get new dental, vision, and hearing benefits, as well as lower prescription drug prices. The coming bill would create new programs for universal pre-K, subsidized child care, free community college, and paid family leave. Some unauthorized immigrants would be able to get green cards. Then there’s major spending on clean energy, housing affordability, and much more.

It would be “the most consequential piece of legislation passed since the Great Depression,” Sen. Bernie Sanders (I-VT) said last month. In spending terms, it would be as much as $3.5 trillion — about triple the size of Obamacare, the law that then-vice president Biden famously called “a big fucking deal.”

https://www.msn.com/en-us/news/politics/biden-s-reconciliation-bill-would-be-a-very-big-deal/ar-AAN74ro