What’s in the House-Passed Tax and Spending Bill Backed by Biden
- Package includes main elements of Democrats’ economic plan
- Legislation is likely to undergo many changes in Senate
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The House on Friday passed a roughly $2 trillion bill incorporating the core of President Joe Biden’s economic agenda -- ramping up funding for the social safety net and increasing taxes on corporations and the wealthy -- sending it on to the Senate, where it’s likely to be significantly reshaped.
The legislation will likely undergo several more changes, both to get all 50 members of the Senate Democratic caucus on board with it, and to comply with the chamber’s complicated rules to avert a filibuster, in face of Republican opposition.