Progressives Offer to Cut Spending Short to Save Biden Plan
Published Date: 10/4/2021
Source: Bloomberg Quicktake: Now
House progressives looking for ways to rescue President Joe Biden’s stalled domestic agenda opened the door to scaling back some of the more ambitious social spending by having those programs expire rather than be permanent. “One of the ideas out there is to fully fund what we can fully fund, but instead of funding it for 10 years, fund it for five years,” said Representative Alexandria Ocasio-Cortez, a New York Democrat and leading progressive voice, on CBS’s “Face the Nation.” Democrats are looking for ways out of their deadlock three days after House Speaker Nancy Pelosi scuttled a planned vote on a $550 billion infrastructure package. She retreated as progressives balked at a standalone bill without the $3.5 trillion social safety-net spending and tax increases they want. Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm​ Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live​, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg​ Breaking News on YouTube: https://www.youtube.com/c/BloombergQu...​ Twitter: https://twitter.com/quicktake​ Facebook: https://www.facebook.com/quicktake​ Instagram: https://www.instagram.com/quicktake