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$3.5 Trillion Budget Bill Passes First Senate Hurdle - YouTube
Channel: The Young Turks
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the senate has officially approved a 3.5
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trillion dollar budget blueprint now
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this is a resolution meaning that they
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haven't actually voted on the final
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legislation yet but this is the
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reconciliation bill that we've been
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talking about for months and months the
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very bill that includes all of the
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agenda items in biden's infrastructure
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package that didn't actually make it in
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the bipartisan infrastructure package
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now that includes much of what was again
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left out of biden's proposals in uh his
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infrastructure proposal and uh of course
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not a single gop lawmaker in the senate
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voted in favor of it but that was to be
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expected again this is the 3.5 trillion
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dollar bill
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that includes things like child care
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elder care here let me give you a list
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of uh
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provisions that are included that was
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provided by bernie sanders to jeff stein
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of the washington post it includes child
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tax benefits universal pre-k paid family
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and medical leave tuition free community
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college lower prescription drug costs
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dental hearing vision medicare expansion
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housing home care major climate action
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immigration
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immigration reform specifically
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pertaining to daca recipients it also
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includes a lower medicare age meaning
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that it seeks to expand medicare to
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cover more individuals obamacare
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expansion increasing physical supply and
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also i don't i'm going to keep it real i
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don't know what increasing physical
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supply means
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but it does have
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important provisions that do fund
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certain things that help ordinary
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americans rather than corporate america
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and where would the revenue come from it
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would come from a beefed up irs meaning
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that it would be funded
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to do the audits necessary on tax
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dodgers at the very top
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it would tax the rich tax corporations
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and also implement fees on polluters and
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it would include medicare negotiations
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now that's
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a summary of the bill the reason why
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we're giving you a summary is because we
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don't have the actual legislation in
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front of us yet because all they did was
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vote on a blueprint they didn't vote on
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the end legislation they just voted on
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this blueprint and it passed with every
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democratic senator voting in favor of it
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so that's positive news
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except we're already hearing that while
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some of these corporate democrats in the
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senate voted in favor of the resolution
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they're unlikely to vote in favor of the
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final bill because they have issues with
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let's keep it real taxing the rich
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now uh the chamber's approval of the
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budget framework came after an
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hours-long spectacle known as voterama
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the process is where senators are
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allowed to uh offer an unlimited number
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of largely meaningless and non-binding
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uh provisions so non-binding means that
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nothing's gonna happen right they
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propose these provisions they debate the
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provisions they give their floor
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speeches about these provisions but at
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the end of the day these amendments to
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the resolution are in fact non-binding
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now senator ron wyden who's the chair of
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the senate finance committee offered an
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amendment expressing support for tax
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increases on the nation's richest 0.1
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percent the measure actually failed it
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failed why did it fail because senators
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kirsten cinema janine janine shaheen and
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maggie hassan joined every republican in
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voting no
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so that's a red flag because that made
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it very clear that there are several
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democratic lawmakers in the senate who
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have a problem with increasing taxes on
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the rich in order to pay for some of the
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provisions in this more robust
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bill now it's now being referred to as a
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budget bill it was originally referred
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to as the second half of the
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infrastructure bill the reconciliation
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version that allows for its passage with
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a simple majority in the senate
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but
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it's clear that
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kirsten cinema who has no problem
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infuriating her own base her own
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constituents uh would fight this
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legislation when it comes down to a
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final vote in the senate the 3.5
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trillion budget resolution now heads to
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the house which can either pass the
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measure as is or amend it and send it
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back to the senate house democratic
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majority leader steny hoyer announced
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tuesday that the lower chamber will cut
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its recess short to take up the measure
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on august 23rd
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so the real question now is what is
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likely to happen
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once this legislation makes its way to
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the house because there has
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unfortunately also been
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some pushback from corporate democrats
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in the house
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now in the house democrats do have a
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majority it isn't a large enough
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majority to prevent a block of corporate
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democrats uh from stopping its passage
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so we'll see what happens there but
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understand that both in the senate and
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the house you have corporate democrats
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who plan to stand in the way and that's
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a huge huge problem now the other
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problem is you have corporate media and
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the way that it frames these types of
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stories these types of
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proposals
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on one hand you have the
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slimmed down bipartisan infrastructure
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bill which includes corporate handouts
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which includes privatizing public
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infrastructure and it seems like the
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media has been pretty favorable in their
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coverage toward that bipartisan bill
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it's historic it's historic oh my gosh
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we never thought that democrats or
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republicans could work together to pass
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anything i got news for you when it
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comes to corporate handouts
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they'll work together to pass anything
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now the way that they talk about the 3.5
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trillion dollar
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budget deal
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that's also fascinating now pay close
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attention to how cnn framed both pieces
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of legislation when they covered the
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story
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a two-headed monster is making its way
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through the u.s senate on one track a
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1.2 trillion dollar infrastructure
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package poised for a final vote late
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tonight or early tomorrow morning and
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then on the other a 3.5 trillion dollar
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budget resolution which was just
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released today
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[Music]
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a two-headed monster it's an interesting
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way of framing legislation that
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improves infrastructure and in the case
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of the 3.5 trillion dollar proposal
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improves the lives of ordinary americans
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through legislation which honestly
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hasn't happened in a long long time but
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let's watch a little more of cnn's
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coverage on this because
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some of their reporting is important
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especially the reporting that calls out
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the democratic lawmakers who have a
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problem with increasing taxes on the
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wealthy in order to pay for all those
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provisions that we desperately need
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the senate also set in the coming days
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to pass the 3.5 trillion dollar budget
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blueprint that unlocks the ability to
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pass the second piece packed with
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progressive priorities through the
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senate on a simple majority vote the
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most significant legislation for
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american families since the era of the
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new deal and the great society setting
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up weeks of closed-door negotiations
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over a package set to include home and
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child care free community college
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universal pre-k paid leave and even a
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pathway to citizenship for certain
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undocumented immigrants but with the
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barest majorities in both chambers no
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easy path ahead despite as tension
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between the wings of the democratic
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party ramps up in the house where
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moderates in a letter to speaker nancy
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pelosi are pressing leaders to pass the
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senate infrastructure bill now saying
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quote the country cannot afford
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unnecessary delays immediately drawing
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sharp rebuttals from progressives who
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refuse to support that bill until the
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second measure is ready for passage
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pelosi making clear the bipartisan bill
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will go nowhere until that second bill
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is complete whatever you can achieve in
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a bipartisan way
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bravo
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we salute it we applaud it we hope that
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it will have passed soon
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but at the same time we're not going
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forward with leaving people behind
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now the real question is will nancy
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pelosi stand her ground as house speaker
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she claims that she will not allow for a
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floor vote on the bipartisan
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infrastructure bill unless both
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pieces of legislation the infrastructure
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bill and the budget bill make their way
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to the house
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but here's the issue as you saw in that
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report you have corporate democrats in
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the house who are urging urging the
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house speaker to
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allow for a floor vote on the bipartisan
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bill immediately regardless of where
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we're at with the 3.5 trillion dollar
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budget bill
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and that is a problem and we should name
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them by name
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because we do have some more information
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about the letter that they sent her
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and we should know who they are so
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a group of six moderate democrats
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they're conservative corporate democrats
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of course has started circulating a
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letter addressed to speaker nancy pelosi
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that urges her to bring the bipartisan
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legislation to the house floor for a
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voter suit
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as soon as possible and here's what the
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letter says we must bring the bipartisan
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infrastructure bill to the house floor
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for a stand-alone vote this once in a
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century investment deserves its own
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consideration without regard to the
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other legislation
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separately as we begin the
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reconciliation process we have concerns
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about the specific components of that
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potential package meaning we don't like
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the 3.5 trillion dollar package
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the 3.5 trillion dollar package
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includes tax increases for individuals
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making more than 400 000 a year and for
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corporations and we're not like in favor
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of that you know these are people who
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help fund our campaigns
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these are people who have more sway than
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our constituents who overwhelmingly
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support
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the 3.5 trillion dollar bill based on
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polling
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but you know we listen to our donors and
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we protect our donors and our donors
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don't want tax increases they talk about
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the spending right pay close attention
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because they'll never say of course
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they'll never say
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we're looking out for our corporate
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donors they don't want to pay more in
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taxes what they will say is we're
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worried about the deficit we're the
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deficit guys the deficit we're so
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concerned about the deficit
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so that's why we're
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you know
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raising some red flags here but let's
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vote on that corporate giveaway
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bipartisan infrastructure bill first
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let's do it as a standalone bill
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so the question is will house speaker
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nancy pelosi stand her ground or will
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she cave to these corporate democrats
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and who are they
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the letters being circulated by uh
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conservative democratic representatives
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josh gothheimer
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jared golden kurt schrader and also
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vicente gonzalez ed case and uh
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philmon vela from texas
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so those are the lawmakers who signed on
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to that letter they want a stand-alone
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vote on uh that infrastructure bill they
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do not support it's already very clear
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the 3.5 trillion dollar budget bill that
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includes everything that actually
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benefits the lives of working americans
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and so it's important to know who our
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friends are who our enemies are who
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looks out for corporate interests and
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who looks out for their own constituents
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and ordinary americans
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we don't know how this is going to play
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out but
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progressives do have some leverage here
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if progressives withhold their vote on
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the bipartisan infrastructure deal
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and ensure
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that they also get a vote on the budget
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deal
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i think that all of that hard work all
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of that campaigning to get them elected
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as they were primary and corporate
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democrats will pay off
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they need to hold their ground they need
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to stand their ground and i think that
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they
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progressive specifically have the
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ability to do it and they'll have my
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full support if they do
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there's no reason we should allow
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corporate democrats to be the ones who
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have all the sway over the future of
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this country over the future of the
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infrastructure bill
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if you want the corporate handouts and
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the corporate goodies
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you got to give us something in return
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that's what progressives should be
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saying and they are saying it to be fair
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the question is will they hold their
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ground we'll see
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