Senate Democrats announce $3.5 trillion finances settlement

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Senate Majority Leader Chuck Schumer (D-NY) speaks to reporters after the Senate Democrats’ weekly political lunch at the U.S. Capitol in Washington, July 13, 2021

Elizabeth Frantz | Reuters

Senate Democrats announced Tuesday that they had reached a budget agreement among themselves that would see them spend a whopping $ 3.5 trillion over the next decade.

The fiscal plan would pave the way for Democrats’ efforts to channel a huge pool of federal funding for climate change, health care, and President Joe Biden’s family support programs.

Senate Majority Leader Chuck Schumer, DN.Y., announced the deal, which was flanked by all eleven Democrats on the Chamber’s Budgets Committee after a two-hour evening session that concluded weeks of negotiations between party leaders, progressives and moderates.

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If Democrats in Congress unite behind the proposal and turn it into a budget decision that they can get through Congress in the coming weeks, it would help them pass a subsequent, comprehensive bill that would actually fund their priorities.

That’s because the budget resolution includes language that would allow Democrats to get the huge spending bill through the Senate by just a simple majority, not the 60 votes Republicans could ask with a bill-killing filibuster.

“We are very proud of this plan,” Schumer told reporters. “We know we have a long way to go. We’re going to do this to make the life of the average American a lot better.”

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