House Passes Build Back Better Reconciliation Package
Last week, after the Congressional Budget Office returned its estimate of the costs of the package, the House of Representatives passed the Build Back Better (BBB) Act. The legislation invests in Democrats’ social priorities, including climate, housing and childcare. The package is a slimmed-down version of the $3.5 trillion spending bill that Democrats proposed earlier this year but failed to gain the support of the majority of their caucus.
While Sen. Majority Leader Chuck Schumer (D-NY) said he hopes to pass the Build Back Better Act before Christmas, the package faces an uncertain future in the Senate. The package has changed significantly in response to input from Senators Joe Manchin (D-WV) and Kyrsten Sinema (D-AZ) and it is unclear whether Manchin will support the bill this year. The senator has previously suggested that the timing of the legislation could slip to 2022. Finally, any changes the Senate makes to BBB will have to be approved by the House of Representatives before the bill can be signed by the president.
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