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    House of Representatives Passes Social Safety Net and Climate Program

    Speaker of the House Nancy Pelosi (D-CA) will preside over a vote for the Build Back Better Act at the US Capitol on November 19, 2021 in Washington, DC.

    Anna Money Maker | Getty Images

    Washington-Friday’s House of Representatives has passed the largest expansion of social safety nets in decades. This includes Universal Pre-K, Medicare Expansion, Renewable Energy Credits, Affordable Housing, 1 Year Extended Child Tax Credits and Major Obamacare Subsidies.

    The final vote was 220-213, with only one Democrat named Jared Golden in Maine voting against the bill.

    As it passed the House of Representatives, President Joe Biden’s Buildback Better Act goes to the Senate, where it may be amended in the coming weeks. Senate leader Chuck Schumer said he is aiming to have the Chamber of Commerce pass the bill before Christmas. If the bill changes, the House of Representatives will have to vote again.

    If the bill is enacted, it will significantly change the number of Americans, especially families with children, the elderly, and low-income Americans.

    What’s in the current version of the bill:

    • A universal kindergarten for all 3 and 4 year olds. In addition to helping millions of children get ready for school, the benefits will allow infant parents to return to the workforce sooner.
    • For parents who earn up to 250% of the state’s median income, limit childcare costs to 7% of their income.
    • 4 weeks of federal paid parent, illness or caregiver leave.
    • One year of expanded child tax credit.In the last year, these credits Raised households with more than 3 million children from poverty, And reduce overall child poverty in the United States by 25%.
    • An extension of affordable care subsidies in the pandemic era. So far this year, these grants have resulted in more than 2 million ACA registrants.
    • Benefits of new hearing aids for Medicare recipients, including compensation for new hearing aids every 5 years.
    • The monthly cost limit for insulin under Medicare is $ 35, and the cost limit for out-of-pocket prescription drugs is $ 2,000 per year.
    • $ 500 billion to combat climate change, primarily through clean energy tax credits. This represents the largest federal investment ever in clean energy.
    • Increase state and local tax deduction limits from $ 10,000 to $ 80,000.

    The bill brings together split caucuses of conflicting interests, unites behind a vast 2,000-page bill, and represents a major victory for Speaker of the House Nancy Pelosi (D-Calif), who has fallen below the majority. increase.

    The long way to vote

    Pelosi and Democratic leaders initially wanted the bill to be passed on November 5. On the same day, the Chamber of Commerce resolved to pass a $ 1 trillion bipartisan infrastructure bill.

    However, moderate Democrats insisted on seeing the Office of Management and Budget analyze the impact of the bill before voting on the bill. That analysis It wasn’t released until Thursday. House Democrats wanted to vote Thursday night, but Republican leader Kevin McCarthy derailed those plans in a rambling manner. 8 hours or more of speech It lasted from night to early Friday morning.

    Progressives were reluctant to throw their weight behind the infrastructure bill without the iron-clad guarantee that moderates would later vote to pass the Buildback Better Act when they came to the floor. ..

    CNBC politics

    Read more about CNBC’s political coverage:

    As soon as they got the CBO score, they got the guarantee in the form of a statement from the moderates, “I promise to vote for the Build Back Better Act in its current form.”

    But even after reaching this compromise, six progressives voted against the infrastructure bill and 13 Republicans crossed the aisle to join the Democratic Party and pass it.

    But without these 13 Republican votes, the bill would not have been passed.

    A last-minute compromise

    The final wording of the Build Back Better Act reflects many late-stage deals achieved by Democratic leaders on small group holdouts.

    Among them are Democrats who argued immigrants in the bill, a group of Northeastern lawmakers who opposed lowering the SALT deduction limit, and support for Medicare’s drastic empowerment to negotiate prescription drug prices. It contained a third block of moderates who refused to do so.

    In each case, the leader and members have reached a compromise. This is a testament to the confidence that members of Pelosi’s caucuses are still on the speaker, even after months of sometimes tense negotiations.

    For Golden, the only democratic “opposition” vote, one of these compromises was overkill. A significant increase in the maximum amount an individual can deduct from a federal tax return for state and local taxes.

    In a statement explaining his opposition Thursday, Golden said the long-term cost of lifting SALT’s tax cap was about $ 280 billion over a decade, and the bill’s “Child Care, Pre-Kindergarten, Healthcare, or” It is larger than the “Senior Care Regulations”. “

    In addition, some analysis of the bill’s results has shown that most of the taxpayer savings in the SALT cap abolition clause come in the interests of high-income earners.

    Biden’s big victory

    The Buildback Better Act and the individual bipartisan infrastructure legislation together represent the decisive achievements of Biden’s first year in office.President Signed infrastructure bill Earlier this week.

    Together, they will become middle-class presidents, fulfilling the promise of his core campaign to specifically improve the lives of working families and address climate change.

    In a broader sense, they serve as an example of Biden’s worldwide debate that “American democracy can provide a better quality of life than dictatorship.”

    The bill rarely came at a more important time for the president. Biden saw his approval rating plummet as inflation and the global supply chain crisis dominate many Americans’ sentiment about the economy.

    Polls also began to see voters ineffective and engulfed in the “Washington problem” as Democrats in Congress argued over the content of the bill, in the daily struggle of their members. I showed that I didn’t touch it.

    The next step in the Senate

    As it passed the House of Representatives, the Build Back Better Act goes to the Senate, where it may be amended in the coming weeks.

    There, two conservative Democrats have a great influence on what happens next. Senator Joe Manchin of West Virginia and Kyrsten Sinema of Arizona. Manchin has already said he opposes including paid leave in the bill.

    Senate Budget Committee Chairman Bernie Sanders, Vermont, opposes raising the SALT cap, arguing that it favors the wealthiest taxpayers and costs the government billions of dollars. bottom.

    House of Representatives Passes Social Safety Net and Climate Program

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