Biden, pushing $1.75 trillion spending bill, dealt setback on infrastructure
U.S. President Joe Biden was dealt a setback on Thursday as the House of Representatives abandoned plans for a vote on an infrastructure bill with progressives seeking more time to consider his call for a separate $1.75 trillion plan for climate measures, preschool and other social initiatives.
Biden had sought to unite his party behind the climate and social spending plan with personal appeals on Thursday, and had pressed for a Thursday vote on the $1 trillion infrastructure bill, another main plank of his agenda.
He hoped a framework on the larger measure would convince progressive House Democrats to support the infrastructure bill, but their insistence that the two move together led House leaders to abandon a planned vote, leaving Biden empty handed.
Treasury Secretary says spending packages will change U.S. economy for the better
U.S. Treasury Secretary Janet Yellen said on Thursday that President Joe Biden’s social spending and infrastructure packages would change the shape of the U.S. economy for the better and drive inflation down.
Biden on Thursday unveiled a $1.75 trillion economic and climate change plan that he said unified Democrats and which was then was quickly rebuffed by members of his own party.
The proposals represented “something truly historic: a new period of investment in economic growth for all Americans across the country,” Yellen said in a statement.
U.S. inflation accelerated last month, with consumer prices rising 5.4%.
Reference: Reuters
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