Senate Democrats announce $3.5 trillion budget agreement
WASHINGTON (AP) â Senate Democrats announced Tuesday that they have reached a budget agreement among themselves that envisions spending an enormous $3.5 trillion over the coming decade. The fiscal plan would pave the way for Democrats' drive to direct a huge pool of federal resources at climate change, health care and family-service programs sought by President Joe Biden.
Senate Majority Leader Chuck Schumer, D-N.Y., announced the accord flanked by all 11 Democrats on the chamberâs budget committee after a two-hour evening meeting that capped weeks of bargaining among party leaders, progressives and moderates.
The agreement is a major step in Democrats' drive to turn Biden's effort to bolster an economy that was ravaged by the pandemic and set it on a course for long-term growth. Separately, bipartisan senators have been working toward another measure that would spend around $1 trillion on roads, water systems and other infrastructure projects.