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And Republicans don't like the $2 trillion price tag of Biden's full plan.” There’s also a group of 10 Democrats working to find common ground, but the cohorts are trillions of dollars apart - mainly because Republicans want infrastructure to be more narrowly defined. “Cassidy is part of the so-called Gang of 10 Republican senators working to reach compromise on infrastructure. Bill Cassidy said Republicans and Democrats are ‘a lot closer than you might think’ on a bipartisan path for … Biden’s infrastructure plan, if the plan fits into a traditional definition of infrastructure. Smaller deal possible - Via our Myah Ward: “Sen. So, the other part of paying for this comes from raising taxes back to the level they were at, 39.6 percent before 2017 for families making over $400,000. And we've been assiduous in sticking to that pledge. “The president has pledged that no family earning under $400,000 will pay a penny more in taxes. Yellen on Biden’s plans - Treasury Secretary Janet Yellen on NBC’s “Meet the Press” with Chuck Todd: “e think the plans are extremely important and necessary to invest in our economy so that we can be competitive and have families and children succeed, invest in infrastructure, in R&D, and the things that shore up middle class prosperity …

They don’t really have the margins in Congress to jam it through and the economy starting to cook doesn’t really help the case. economy, especially when it comes to child care, education and the environment. Officials in the White House and progressives outside want to see fundamental structural changes to the nature of the U.S. This is the essential tension of the Biden agenda. The White House certainly has a friendly audience at the Fed, where officials also believe that any inflationary pressure this spring and summer will pass once supply catches up to pent up demand. It’s a worthy argument but still a tough sell in Congress as the economy is set to continue to heat up with the April jobs report on Friday expected to show a gain of close to 1 million jobs as the service sector continues to bounce back from the Covid crash. Officials note that much of the spending is spread out over years and is aimed at boosting economic capacity and productivity (better child care, stronger infrastructure, green energy and the like) in ways that will not be inflationary. West Wing Mind Meld - The White House thinks a lot of economic pundits (MM included) are getting the $4 trillion in additional proposed spending wrong when it comes to deficits and inflation.

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