9.39am EDT
09:39
One big question to consider this morning: will the framework released by Joe Biden be enough for House progressives to feel comfortable moving forward with the bipartisan infrastructure bill?
House progressives have withheld their support from the infrastructure bill for weeks because they have insisted that the reconciliation package must advance at the same time.
Some progressives have reiterated this week that they do not want to vote for the infrastructure bill until they at least see the text of the reconciliation package.
Biden is meeting with House Democrats this morning, and they will likely discuss the timing of a vote on the infrastructure bill.
9.34am EDT
09:34
Joe Biden’s framework for the reconciliation package calls for the bill to be funded through a series of new taxes on corporations and the wealthiest Americans.
The president is calling for a 15% corporate minimum tax on large companies and a 1% surcharge on corporate stock buybacks.
If enacted, the reconciliation bill would also place a new surtax on multi-millionaires and billionaires and invest in IRS enforcement.
Democrats had initially been looking at raising tax rates on large corporations and wealthy Americans to help pay for the bill, but centrist Senator Kyrsten Sinema expressed criticism of those proposals.
9.24am EDT
09:24
The framework of the reconciliation bill released by the White House includes an expansion of Medicare to cover hearing care.
But Senate budget committee chairman Bernie Sanders has demanded that the bill also expand Medicare to include dental and vision coverage, which is not mentioned in the framework.
Furthermore, Sanders has insisted that the reconciliation package take meaningful steps to lower the prices of prescription drugs.
The framework indicates the bill would repeal a Trump administration rule that may have negatively impacted drug prices, but there does not appear to be any other mention of the issue.
It’s unclear whether this framework would be sufficient to attract the support of Sanders and other progressives who have said those issues are top priorities for them.
When asked this morning whether Sanders supports the framework, Joe Biden told reporters, “Everybody’s on board.”
9.20am EDT
09:20
Biden releases framework for spending package as he prepares to leave for Europe
Greetings from Washington, live blog readers.
Joe Biden has just released a $1.75tn framework for Democrats’ reconciliation package, a massive spending package that includes significant investments in climate initiatives, healthcare programs and childcare access.
According to the framework just released by the White House, the president is calling for $400bn to be spent on establishing universal preschool for all three- and four-year-olds and expanding access to affordable childcare.
Another $555bn would be invested in combatting the climate crisis, including clean energy tax credits, extreme weather response efforts and incentives to spur new domestic supply chains.
Morgan Chalfant
(@mchalfant16)
The president has arrived at the Capitol. pic.twitter.com/k5QE73Ci0w
October 28, 2021
As previously reported, the framework does not include any mention of paid family and medical leave, a key policy that was cut from the bill to keep it at an acceptable price tag for centrist Senators Joe Manchin and Kyrsten Sinema.
Biden has just arrived on Capitol Hill to sell this framework to Democratic lawmakers, but he has limited time to do so. He is scheduled to leave for Europe in just a few hours.
The blog will have more details on the framework coming up, so stay tuned.
Updated
at 9.29am EDT
