Index > 100+
Back
Sunday, November 07, 2021
ANBOUND's Observation: U.S.' Major Plans Expected to be Passed in Future Voting
Chan Kung

After daylong standoff, the progressive and centrists among the Democrats in the U.S. Congress put aside their differences and passed a plan to improve highways, broadband network, and other infrastructure. The bill will be submitted to President Joe Biden for signing into law, and it was passed with a 228-206 vote. Although some commentators believe that the USD 1.2 trillion infrastructure bill is a "major victory" for the Democratic Party to which Biden belongs, the reality is there are serious differences within the party itself concerning the bill for several months, and intensive debates had also taken place over it. Finally, the moderate Democrat Joe Manchin stated publicly that unless the Democrats in the House of Representatives pass the bill passed by the Senate, he will not support the Biden's other major plan, i.e., the USD 1.75 trillion social welfare and climate change plan, which is the U.S.' largest expansion of social safety net since the 1960s.

It appears that Manchin has now won the bet. The USD 1.2 trillion infrastructure plan has been passed. As a price, the next step is to pass the USD 1.75 trillion social safety net plan that the Democratic Party is most concerned about. The plans to fix infrastructure, expand social safety net and tackle the climate crisis will add a total of USD 3 trillion additional expenditures to stimulate the economy. It is expected that the plan will lay the foundation for the U.S. economy in 2022, therefore at least the performance of the U.S. economy next year will not be all too bad.

ANBOUND
Copyright © 2012-2024 ANBOUND