The weekend that has just ended was not good for the Democrats in the Senate, since they could not advance in the pending points to approve the Infrastructure Plan . This is making those involved nervous since the legislative period of sessions is about to conclude and there are only a few days left before the plan can be approved.
One of the reasons why they could not The advance had to do with the fact that some members of the ruling party asserted that the bipartisan proposal that was endorsed by President Biden did not have enough budget for social items .
On the morning of this Monday, the Democrats presented a budget project for these purposes. The social spending plan that is proposed represents $ 3.5 billion dollars, an amount that they want to approve without depending on the support of the Republican Party .
According to EFE, the proposal does not contemplate an increase in the debt ceiling. If this budget is approved, congressmen will be able to draft a law that increases spending on health, child and elderly care, will help the education sector and the fight against climate change .
Democrats want their budget proposal to be financed by an increase in taxes on those with more annual income, as well as they propose to tax large inheritances and the multimillion-dollar profits that large corporations have .
The way to approve the budget without Republican votes is budget reconciliation and give certainty to the social spending that is proposed. If this option is applied, the Democrats run the risk of not reaching future legislative agreements with the opposition caucus .
The Republicans reject the social spending package, even threatening that will not provide the 10 votes necessary to raise the debt ceiling outside the budget process, so that next fall there could be an intense struggle between both parties over the country’s debt limit.
According to EFE, the Treasury Department has taken “extraordinary measures”, such as the suspension of the sale of bonds , with which the public debt is financed, to avoid the effects of exceeding the debt ceiling after the deadline for Congress to act on August 1 expired.
Said measures serve to avoid the default of debt obligations until October or November before that President Joe Biden have to sign a law that the eve or suspend that cap again.
Democrats intend to pass the budget proposal this week, if all goes as planned and a $ 1 trillion traditional infrastructure initiative passes in the Senate.
Senate Majority Leader Chuck Schumer, He said in a letter to his caucus that the budget proposal is a “starting point” for negotiating among progressives on the spending package.
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