Lawmakers in the House of Representatives are expected to vote on Friday on a revised reconciliation bill devoted to climate change and social programs, and the bipartisan infrastructure bill already passed in the Senate in August, House Majority Leader Steny Hoyer said late Thursday.
The House Rules Committee met late Thursday to advance the final text of the spending bill. House Majority Leader Steny Hoyer said the House will vote on President Joe Biden’s two-part economic agenda Friday morning at 8 a.m. ET, reported CBS News.
Democrats want to pass the $1.75 trillion reconciliation bill—also known as the Build Back Better bill—and the $1 trillion bipartisan infrastructure bill before the Nov. 25 Thanksgiving holiday.
“We’re going to pass both bills,” House Speaker Nancy Pelosi asserted at a midday press briefing on Thursday.
Pelosi announced Wednesday that paid family and medical leave will be included in the reconciliation bill, after it was dropped earlier due to opposition from Sen. Joe Manchin (D-W.Va.).
House Ways and Means Committee Chairman Richard Neal confirmed late Wednesday the provision was officially back in the reconciliation bill.
Democrats also added other provisions in recent days, including work permits for immigrants and changes to state and local tax deductions.
The nonpartisan U.S. Joint Committee on Taxation issued a report scoring the “Build Back Better” legislation’s tax revenue provisions at $1.48 trillion over the next decade.
Pelosi and Neal said the committee’s analysis did not account for additional revenue from provisions intended to enhance the Internal Revenue Service’s tax collection and to lower the cost of prescription drugs for the Medicare healthcare program for the elderly.
“It’s an objective view that it is solidly paid for,” Pelosi told reporters after a meeting of House Democrats on the legislation.
Treasury Secretary Janet Yellen in a statement on Thursday said the bill would raise more than $2 trillion, enough to pay for the bill over ten years and “reduce deficits over the long term.”
The Joint Committee on Taxation said the measure would raise $640 billion from tax increases on high-income individuals and $814 billion from corporate and international tax reforms from 2022 to 2031.
If passed by the House, the reconciliation bill would move to the Senate, which Democrats control by a razor-thin margin.
Reuters contributed to this report.
From The Epoch Times