The “build back better bill when will senate vote” is a bill that was passed by the House of Representatives overnight. The Senate still has to vote on the bill.
House Republicans passed the Build Back Better bill that would provide funds to rebuild parts of Puerto Rico. The measure was initially set for vote last week, but it came under fire after Hurricane Maria hit the island and lawmakers said they needed more time.
After House Minority Leader Kevin McCarthy’s hours-long midnight floor address, the House approved the Build Back Better social spending package Friday morning. The vote was intended to take place Thursday night, but was postponed due to McCarthy’s speech. At 9:46 a.m. on Friday, the bill passed 220-213, prompting Democrats in the House to shout, “Nancy, Nancy, Nancy.”
The bill still faces opposition in the Senate, where it’s uncertain if moderate Senators Joe Manchin and Kyrsten Sinema would support any of the House’s proposals. In sum, President Biden’s main idea to extend the social safety net is still being debated.
In a statement, Mr. Biden added, “The Build Back Better Act is economically reasonable.” “It lowers the deficit in the long run. It is entirely funded by requiring the richest Americans and companies to begin paying their fair share of federal taxes. It fulfills my promise that no one earning less than $400,000 per year would pay any more federal taxes. It will not contribute to inflationary pressures, according to leading economists and independent Wall Street specialists. Instead, it would increase our economy’s potential and lower expenses for millions more households.”
Pelosi also praised the bill’s passing in the House of Representatives.
“This is a historic measure. It is historically significant “She informed CBS News about it. “It’s a game changer. It’s larger than anything we’ve ever attempted before.”
McCarthy finished his comments at 5:10 a.m. Friday, eight hours and 32 minutes after he started, breaking Nancy Pelosi’s record of eight hours and seven minutes established in a 2018 address supporting the “DACA” program for immigrants. There were just a few members left in the parliament. The House was called to order a minute later, and it was scheduled to resume at 8 a.m. on Friday.
House Democratic leaders instructed members just after midnight to go home and return Friday morning for a vote on the measure.
McCarthy’s high-octane address, which included a slew of assaults on Democrats and House Speaker Nancy Pelosi, wrapped off a hectic evening on Capitol Hill.
The bill’s cost estimate was provided by the impartial Congressional Budget Office (CBO) on Thursday. Several moderate Democrats had said that they would wait for the final score before voting.
At least two moderates who had been waiting for the CBO assessment declared Thursday night that they would vote for the plan, and another moderate, Texas Congressman Henry Cuellar, hinted that he would as well.
The Democrats’ margin of victory on the legislation, though, remained razor-thin. Representative Jared Golden of Maine continued to voice doubts, and the Democrats could only afford to lose three votes given their narrow majority, since no Republicans were likely to back the plan.
According to the CBO, the deficit would rise by more than $367 billion over ten years. However, the projection did not include in the potential income from increased IRS enforcement, which the CBO estimated at $207 billion.
Minority Leader Kevin McCarthy of California talks on the House floor during discussion on the Democrats’ comprehensive social and environmental plan on November 18, 2021, in this picture from House Television. AP via House Television
Janet Yellen, the Secretary of the Treasury, praised the CBO’s findings. She said in a statement that the combined CBO score, Joint Committee on Taxation estimates, and her own department’s analysis “make it clear that Build Back Better is fully paid for, and in fact will reduce our nation’s debt over time by generating more than $2 trillion through reforms that ask the wealthiest Americans and large corporations to pay their fair share through reforms that ask the wealthiest Americans and large corporations to pay their fair share through reforms that ask the wealthiest Americans and large corporations to pay their fair share
Over the last two weeks, the CBO has released estimates on various components of the Build Back Better Act, but it didn’t address how much money the bill would generate or how much it would cost until Thursday.
The CBO predicts that the law will cost $1.63 trillion in total. Changes to the tax law and other measures, according to the office, would raise more than $1.26 trillion in revenue, with improved IRS enforcement adding another $207 billion.
Some of the CBO statistics are lower than the Biden administration’s projections. The cost of universal pre-K and affordable child care, according to the agency, would be about $382 billion, compared to the bill’s $400 billion line item. Prescription medication changes would save over $300 billion, which is $50 billion more than the White House had predicted. Other estimations were more accurate: Both estimate the cost of affordable housing to be about $150 billion. Furthermore, the CBO estimated that extending Medicare to cover hearing aids would cost $36 billion, whereas the White House estimated that it would cost $35 billion.
A four-week paid leave contained in the House version of the measure, according to the CBO, would cost $205 billion. Because paid leave had been removed from the bill, but was then partly restored by Congress, that provision was not included in the updated White House framework.
The White House believes that their plan, which is anticipated to cost $1.75 trillion, would lower the deficit over time, earning more than $2.1 trillion over ten years.
Following the House vote on Build Back Better, the measure will be sent to the Senate, where the Democrats’ 50-seat majority will almost certainly result in more revisions.
This study was co-authored by Jack Turman and Brian Dakss.
The “Build Back Better bill in senate” is a bill that was passed overnight by the house of representatives. The bill will now go to the Senate for approval. Reference: build back better bill in senate.
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