Thursday, August 5

Senate Democrats reach deal on $3.5 trillion reconciliation package


  • Senate Democrats have agreed on a $3.5 trillion reconciliation package.
  • The package would stand at $4.1 trillion with new infrastructure spending.

Senate Democrats on Tuesday confirmed that through budget reconciliation talks, they reached a deal on a $3.5 trillion spending package.

The deal was negotiated without Republican counterparts.

Few details have been released, but the package is reportedly set to include a Medicare expansion as part of the deal, as well as spending to address climate change.

Democrats leaving the negotiations were confident about the topline agreement, as details are set to be worked out in the coming weeks.

“We are very proud of this plan. We know we have a long road to go,” Senate Majority Leader Chuck Schumer told reporters. Schumer also called the Medicare expansion included in the deal, “robust.”

Budget Committee member Rep. Mark Warner said that the spending would be, “fully paid for.”

“What this legislation does it says we’re going to create millions of good paying union jobs,” Senate Budget Chairman Bernie Sanders said after the session.

This story is developing. Check back for updates.





www.businessinsider.com

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