The House has two more weeks before a recess the week of July 5 returns through July and is out all of August then has Committee Work Weeks – meaning no floor votes – until September 20.ĭemocratic package: Democrats on their own are discussing a package of their priorities, including a Medicare expansion, of as much as $6 trillion that would be paid for by perhaps about half that much in tax increases. He pushed back against a report that, after a meeting with White House counselor Steve Ricchetti on Tuesday, House Budget Committee Chairman John Yarmuth (D-KY) said the administration was “giving it a week or 10 days and then we move along with reconciliation.” As Democratic Whip Dick Durbin (D-IL) said earlier, in suggesting bipartisan talks must wrap soon, the June legislative period is passing by – the Senate calendar says they are out June 28-July 9 – then there are “three weeks in July and one in August and then we’re in the middle of September.” The Senate returns to session from the August recess the week of September 13. We’re going to take our time and do it right,” Portman said. We don’t want to rush it and get things wrong. “We’re working overtime to get the language, to get things in a position to get the right result. On timing, Punchbowl News reported Senator Rob Portman (R-OH), a leader of the bipartisan group that is discussing $579 billion in new spending for a total package of $1.2 trillion, as saying the talks to nail it down could take weeks. Moreover, some of the listed offsets relating to state and local government infrastructure financing, such as reinstatement of direct-pay bonds, will not raise revenue. Revenue can be counted from information reporting proposals, though that portion of the Biden plan, involving the reporting of inflows to and outflows from financial accounts, has drawn opposition from Republican leaders over privacy concerns. Projected enforcement revenue can’t be counted for budget purposes. The exact parameters of what the group supports on the tax gap aren’t clear. The list also includes indexing the gas tax to inflation, as a placeholder pending an alternative non-tax offset from the White House, which opposes that provision as well as a potential annual surcharge on electric vehicles. Politico June 17 reported that a recent, tentative menu of financing/funding provisions includes infrastructure financing authority to leverage private investment, public-private partnerships & private activity bonds, direct-pay municipal bonds for infrastructure investment, reducing the tax gap, and redirecting/repurposing unused COVID funds. ![]() Infrastructure: The infrastructure plan emerging from a 10-Senator bipartisan group that includes Senator Joe Manchin (D-WV) now has the support of at least 21 senators, but there are challenges in terms of the viability of pay-fors and timing, as the Administration reportedly wants a signal about the odds of success soon but negotiations could last a while longer.
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