Biden Goes All-In to End Deadlock With $1.75 Trillion Blueprint

President Joe Biden unveiled a framework for a $1.75 trillion tax and spending package his administration believes can pass Congress and urged House Democrats to quickly clear a separate public works bill for his signature, despite misgivings by progressives.

Biden visited Capitol Hill on Thursday to sell the package of tax increases and climate and social-welfare spending to House Democrats. The legislation would expand federal support for child care, health care and climate programs, funded by a minimum tax on corporations, a tax on stock buybacks and new taxes on incomes above $10 million annually.

Total new revenue from the measure is estimated at $2 trillion over a decade, according to a White House fact sheet.

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.

Connect with us on…

[sandramiller]

Where is all the help for the American People? The American Families are left out and we are going to have to pay more to taxes.

[KT-cihq]

Do your job! Get the border under control! Uphold the Constitution you made an oath to! Protect America!

[MrKingArthurhk]

Oh, look the White House Kabuki room for all your teleprompter needs.

[joanlaufnick]

Fully paid for??? Whom are you fooling? Not the taxpayers. It will be coming out of our pay, out of money we need to provide for our families!!!

[stinkypete]

If you can spent trillions of dollars and it not cost anything, why wasn't it done years ago?

[benduckx]

What's in it? Until we know that, there is no judging anything.

[wingnut]

How can you put millions of people to work when you're paying them to stay home it's a dumbest thing I've ever heard

[SiliconFlux]

"Dont underestimate Joe's ability to fuck things up" Barrack Obama 2016