| 22 May 2024, Wednesday |

Senate Democrats agree to $3.5 trillion spending for budget reconciliation bill

U.S. Senate Democratic leadership and Budget Committee Democrats approved the $3.5 trillion infrastructure investment plan they aim to involve in a budget resolution to be debated later this summer, Senate Majority Leader Chuck Schumer said late on Tuesday.

“We have come to an agreement,” Schumer told reporters after more than two hours of closed-door talks by committee Democrats and White House officials. Republicans have not been included in these talks.

“You add that to the $600 billion in a bipartisan plan and you get to $4.1 trillion, which is very, very close to what President Biden has asked us for,” Schumer said.

Schumer was referring to work being done on a separate, bipartisan infrastructure bill totaling $1.2 trillion, of which nearly $600 billion would be new spending.

Schumer said the agreement, which still must be endorsed by the 50-member Senate Democratic caucus, would include a significant expansion of the Medicare healthcare program for the elderly – a top goal of Budget Committee Chairman Bernie Sanders.

President Joe Biden will travel to Capitol Hill on Wednesday, Schumer said, to meet with Senate Democrats to discuss the emerging legislation.

  • Reuters