AIRLINK 198.01 Increased By ▲ 0.04 (0.02%)
BOP 9.89 Decreased By ▼ -0.15 (-1.49%)
CNERGY 7.47 Increased By ▲ 0.18 (2.47%)
FCCL 38.25 Increased By ▲ 2.25 (6.25%)
FFL 16.77 Decreased By ▼ -0.14 (-0.83%)
FLYNG 27.54 Increased By ▲ 2.50 (9.98%)
HUBC 134.40 Increased By ▲ 0.37 (0.28%)
HUMNL 14.11 Decreased By ▼ -0.03 (-0.21%)
KEL 4.78 No Change ▼ 0.00 (0%)
KOSM 6.74 Decreased By ▼ -0.20 (-2.88%)
MLCF 46.00 Increased By ▲ 1.02 (2.27%)
OGDC 216.48 Decreased By ▼ -1.75 (-0.8%)
PACE 6.96 Increased By ▲ 0.02 (0.29%)
PAEL 40.90 Decreased By ▼ -0.52 (-1.26%)
PIAHCLA 17.00 Increased By ▲ 0.14 (0.83%)
PIBTL 8.48 Increased By ▲ 0.02 (0.24%)
POWER 9.60 Increased By ▲ 0.21 (2.24%)
PPL 183.30 Decreased By ▼ -2.63 (-1.41%)
PRL 42.40 Increased By ▲ 1.13 (2.74%)
PTC 24.92 Increased By ▲ 0.15 (0.61%)
SEARL 104.00 Decreased By ▼ -0.65 (-0.62%)
SILK 1.01 No Change ▼ 0.00 (0%)
SSGC 40.44 Decreased By ▼ -0.47 (-1.15%)
SYM 17.71 Decreased By ▼ -0.34 (-1.88%)
TELE 8.85 Decreased By ▼ -0.06 (-0.67%)
TPLP 12.97 Increased By ▲ 0.13 (1.01%)
TRG 65.85 Decreased By ▼ -0.75 (-1.13%)
WAVESAPP 11.22 Decreased By ▼ -0.08 (-0.71%)
WTL 1.76 Decreased By ▼ -0.02 (-1.12%)
YOUW 4.00 No Change ▼ 0.00 (0%)
BR100 12,096 Decreased By -13.6 (-0.11%)
BR30 36,608 Increased By 10.4 (0.03%)
KSE100 114,735 Decreased By -306.8 (-0.27%)
KSE30 36,057 Decreased By -143 (-0.39%)

WASHINGTON: US President Joe Biden’s plans to spend nearly $5 trillion to change the world’s largest economy advanced in the House of Representatives on Tuesday, after Democratic leaders reached an agreement with centrist lawmakers to end a dispute threatening the bills.

Biden and his Democratic allies controlling the chamber are pushing for passage of both a $1.2 trillion infrastructure overhaul and a bill costing $3.5 trillion over 10 years that would pay for improvements to education, health care and climate change resiliency.

The dispute erupted when centrist Democrats in the House said the infrastructure bill, which the Senate already approved, must be voted on first.

On Tuesday, those lawmakers backed a compromise resolution that allowed both bills to advance, while guaranteeing a date to vote on the infrastructure bill near the end of September.

“Today the House of Representatives has taken significant steps toward making historic investment that’s going to transform America, cut taxes for working families and position the American economy for... long-term growth,” Biden said following the vote.

While some Senate Republicans voted for the infrastructure bill, they have shown no support for the larger budget measure.

With Democrats controlling the Senate by a single vote and the House by just a handful, they must reach near-unanimity to pass legislation.

The compromise House resolution allows for lawmakers to begin working with the Senate on details of the $3.5 trillion bill whose text they hope to unveil by September 15.

It also specifies that the House will vote on the infrastructure bill by September 27.

“I am committing to pass the bipartisan infrastructure bill by September 27. I do so with a commitment to rally House Democratic support for its passage,” House Speaker Nancy Pelosi said in a statement.

In the Senate, Democrats plan to use the reconciliation tactic to prevent Republicans from blocking the proposal, but two of their lawmakers have already said they won’t vote for the bill unless its price is reduced.

Comments

Comments are closed.