Senate Democrats have reached an accord on eleventh-hour changes to their top-priority economic legislation, they announced late Thursday, clearing their...
WASHINGTON — Senate Democrats have reached an accord on changes to their marquee economic legislation, they announced late Thursday, clearing the major hurdle to pushing one of President Joe Biden’s leading election-year priorities through the chamber in coming days.
Schumer has said he hopes the Senate can begin voting on the energy, environment, health and tax measure on Saturday. Passage by the House, which Democrats control narrowly, could come next week. It would spend much of that on energy, climate and health care initiatives, still leaving over $300 billion for deficit reduction.
It will be replaced by a new excise tax on stock buybacks which will bring in more revenue than that, said one Democrat familiar with the agreement who spoke on condition of anonymity because they were not authorized to discuss the deal publicly. The official provided no other detail.
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