Bloomberg Tax
Nov. 19, 2021, 4:08 PM UTC

House Passes Biden’s Economic Plan, Senate Fate Uncertain (1)

Erik Wasson
Erik Wasson
Bloomberg News
Billy House
Billy House
Bloomberg News

President Joe Biden’s signature plan to expand the social safety net, address climate change and rewrite tax policies passed the House Friday morning as Speaker Nancy Pelosi united fractious Democrats to send the legislation to the Senate, where its fate remains uncertain.

The 220-213 vote followed months of intra-party squabbling. It came only after the nonpartisan Congressional Budget Office delivered a cost estimate for the bill, which moderates had demanded before casting their votes. The CBO finding that it would increase the deficit by $367 billion over a decade proved acceptable to enough holdouts for the bill to pass. ...

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