Dems See Tax 'Framework' To Pay For $35T Package

The White House and congressional Democrats have agreed to a framework of options to pay for their huge, emerging social and environment bill, top Democrats said Thursday.

Photo Insert: Senate Majority Leader Chuck Schumer and House Speaker Nancy Pelosi celebrate as they lead the signing of the American Rescue Plan.

Now, they face the daunting task of narrowing the menu to tax possibilities they can pass to fund President Joe Biden’s $3.5 trillion plan. Lisa Mascaro and Alan Fram reported for the Associated Press (AP).

Senate Majority Leader Chuck Schumer of New York and House Speaker Nancy Pelosi of California announced the progress as Biden administration officials and Democratic congressional leaders negotiated behind the scenes.

The package aims to rewrite tax and spending priorities to expand programs for Americans of all ages while upping efforts to tackle income inequality and fight climate change, AP writers Marcy Gordon and Josh Boak also reported

Staring down a self-imposed Monday deadline, lawmakers said they would work nonstop to find agreement on specifics. Democrats’ views on those vary widely, though they largely agree with Biden’s idea of raising taxes on corporations and the wealthy to fund the package.

“We certainly think it’s progress,” Biden press secretary Jen Pskai said at the White House. Biden has been putting his shoulder into the negotiations, inviting more than 20 of his party’s moderate and progressive lawmakers to the White House for lengthy meetings this week.

He’s working to close the deal with Congress on his “Build Back Better” agenda at a time when his presidential campaign promises are running into the difficulty of actually governing. But the party has been divided over many of the details.

Moderate Democrats, most prominently Sens. Joe Manchin of West Virginia and Kyrsten Sinema of Arizona, are demanding that the massive dollar total be reduced. The revenue options to pay for it — that mostly means taxes — being considered can be dialed up or down, the leaders say.

The ultimate price tag may certainly slip from the much-publicized $3.5 trillion. Republicans are solidly opposed to the package, calling it a “reckless tax and spending spree.” So Democrats will have to push it through Congress on their own, which is only possible if they limit their defections to a slim few in the House and none in the Senate.

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