President Biden’s big government legislative agenda will kill 5.3 million jobs and generate $4.5 trillion in debt, according to a Monday study by the Texas Public Policy Foundation.
A letter signed by more than 40 trade associations calls on Congress to reject the proposal, saying it violates customer privacy and would create an incredibly expensive and elaborate reporting requirement for banks.
House Democrats have unveiled a litany of new tax proposals to fund President Joe Biden’s $3.5 trillion federal spending bill, but a new report suggests the spending plan would shrink the economy.
Senate Democrats are poised to blow past their Wednesday deadline to finish the $3.5 trillion social welfare bill, raising fresh doubts about the party’s ability to hold together and put the bill onto President Biden’s desk.
There’s a growing realization among Democrats that their plans for a $3.5 trillion spending package to reshape the nation’s social safety net and to tackle climate change will have to be slimmed down because of anxious centrists worried about the 2022 midterms.
Pelosi was ultimately able to secure yes votes from nine moderate House Democrats for the resolution which expands the social safety net in the U.S. with new federal programs.
