Round to zero? Biden said Congress would pass some of the provisions of the $1.75 trillion reconstruction bill

Financial Associated Press (Shanghai editor Liu Rui) news, local time on Wednesday, US President Biden sent a clear signal, saying that he is likely to have to abandon part of the $1.75 trillion reconstruction bill, but believe that Congress can still pass the rest of the provisions.

Biden said: "I am confident that we can sign part or a large part of the Build Back Better bill into law." ”

Last December, after West Virginia Democratic Senator Joe Manchin said he would not vote in favor, it meant Biden's $1.75 trillion rebuild bill hit a wall in the Senate. After the House votes to pass the bill, all Senate Democrats need to vote in favor of the bill before it can be submitted to the White House after the Senate passes, so as to formally legislate.

Biden said he had previously been communicating with some colleagues in Congress and believed he could win support. He also noted that Manchin supported the bill's provisions on universal pre-school education.

Democrats, including Manchin, have also said they will reinstate the bill in some form.

Biden said: "So I think we can break up this plan, achieve as many parts as possible now, and then come back and fight for the rest." ”

The bill includes universal preschool education, childcare subsidies, and a one-year extension of the tax credit of up to $300 per child. It also includes expanding Medicare coverage to cover hearing aids and increasing coverage for low-income Americans through Medicaid.

The bill also plans to spend more than $500 billion on climate projects. While Republicans in Congress are unanimously opposed to the plan, arguing that it will exacerbate the worst inflation in the United States in decades, Biden believes Democrats can pass the section.

Previously, foreign media reported that Biden aims to retain the legislative provisions aimed at curbing climate change, but remove or reduce the parts that Manchin opposes, including strengthening child tax credits and paid family leave. But White House spokesman Andrew Bates said "the content and details of this report are wrong." ”