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Senate approves framework of $3.5 trillion budget plan that would expand Medicare, tax credits and climate initiatives

Senate Democrats took their first step toward passing a $3.5 trillion spending plan early Wednesday as the party forges ahead with a massive economic agenda.

After more than 14 hours of votes on amendments, the Democratic-held chamber voted to pass a budget resolution 50-49 along party lines. The measure directs committees to craft a bill that would spend up to $3.5 trillion on climate initiatives, paid leave, child care, education and health care.

“The Democratic budget will bring a generational transformation to how our economy works for average Americans,” Schumer said after its passage.

The vote for the resolution follows Senate passage of a $1 trillion bipartisan infrastructure bill Tuesday. Democrats see the bipartisan plan and their reconciliation bill as complementary planks of an agenda that aims to create jobs, slow climate change and strengthen the social safety net.

Reference: CNBC